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Assembly Bill A10329B

2019-2020 Legislative Session

Relates to assessment of the record of performance of banking institutions in supporting persons and certain entities affected by the outbreak of COVID-19

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Archive: Last Bill Status - In Assembly Committee

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Bill Amendments

2019-A10329 - Details

See Senate Version of this Bill:
S8442
Current Committee:
Assembly Banks
Law Section:
Banking Law
Laws Affected:
Amd §28-b, Bank L
Versions Introduced in 2021-2022 Legislative Session:
A6835, S957

2019-A10329 - Summary

Provides for assessment of activities conducted by the banking institution to support persons, small businesses, minority- and women-owned businesses, and certain not-for-profit corporations affected by the outbreak of coronavirus disease 2019 (COVID-19).

2019-A10329 - Bill Text download pdf 

                            
 
                     S T A T E   O F   N E W   Y O R K
 ________________________________________________________________________
 
                                   10329
 
                           I N  A S S E M B L Y
 
                              April 22, 2020
                                ___________
 
 Introduced  by M. of A. REYES -- read once and referred to the Committee
   on Banks
 
 AN ACT to amend the banking law, in relation to assessment of the record
   of performance of banking institutions in  supporting  persons,  small
   businesses, minority- and women-owned businesses, and certain not-for-
   profit corporations affected by the outbreak of COVID-19

   THE  PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND ASSEM-
 BLY, DO ENACT AS FOLLOWS:
 
   Section 1. Paragraph (a) of subdivision 3 of section 28-b of the bank-
 ing law is amended by adding a new subparagraph 1-a to read as follows:
   (1-A) ACTIVITIES, INCLUDING, BUT NOT LIMITED TO, THE OFFERING OF  LOW-
 TO-NO  INTEREST  LOANS,  THE  WAIVING  OF  FEES, AND THE MODIFICATION OR
 EXTENSION OF EXISTING LOANS AND OTHER FINANCIAL  INSTRUMENTS,  CONDUCTED
 BY THE BANKING INSTITUTION TO SUPPORT PERSONS, SMALL BUSINESSES, MINORI-
 TY-  AND WOMEN-OWNED BUSINESSES, AND CERTAIN NOT-FOR-PROFIT CORPORATIONS
 AFFECTED BY THE OUTBREAK OF CORONAVIRUS DISEASE 2019  (COVID-19)  DURING
 THE  STATE  DISASTER  EMERGENCY DECLARED PURSUANT TO EXECUTIVE ORDER TWO
 HUNDRED TWO AND FOR THE SIX MONTHS  FOLLOWING  THE  END  OF  SUCH  STATE
 DISASTER  EMERGENCY.  SUPPORT  PROVIDED  TO A NOT-FOR-PROFIT CORPORATION
 SHALL ONLY BE CONSIDERED FOR THE PURPOSES  OF  THIS  SUBPARAGRAPH  WHERE
 SUCH  NOT-FOR-PROFIT CORPORATION UTILIZED ITS RESOURCES TO ASSIST UNDER-
 SERVED COMMUNITIES DURING THE STATE DISASTER EMERGENCY DECLARED PURSUANT
 TO EXECUTIVE ORDER TWO HUNDRED TWO AND FOR THE SIX MONTHS FOLLOWING  THE
 END OF SUCH STATE DISASTER EMERGENCY;
   § 2. This act shall take effect immediately.
 
 
 
 
  EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                       [ ] is old law to be omitted.
                                                            LBD16116-02-0

2019-A10329A - Details

See Senate Version of this Bill:
S8442
Current Committee:
Assembly Banks
Law Section:
Banking Law
Laws Affected:
Amd §28-b, Bank L
Versions Introduced in 2021-2022 Legislative Session:
A6835, S957

2019-A10329A - Summary

Provides for assessment of activities conducted by the banking institution to support persons, small businesses, minority- and women-owned businesses, and certain not-for-profit corporations affected by the outbreak of coronavirus disease 2019 (COVID-19).

2019-A10329A - Bill Text download pdf 

                            
 
                     S T A T E   O F   N E W   Y O R K
 ________________________________________________________________________
 
                                 10329--A
 
                           I N  A S S E M B L Y
 
                              April 22, 2020
                                ___________
 
 Introduced  by M. of A. REYES -- read once and referred to the Committee
   on Banks -- committee discharged, bill amended, ordered  reprinted  as
   amended and recommitted to said committee
 
 AN ACT to amend the banking law, in relation to assessment of the record
   of  performance  of  banking institutions in supporting persons, small
   businesses, minority- and women-owned businesses, and certain not-for-
   profit corporations affected by the outbreak of COVID-19
 
   THE PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND  ASSEM-
 BLY, DO ENACT AS FOLLOWS:
 
   Section 1. Paragraph (a) of subdivision 3 of section 28-b of the bank-
 ing law is amended by adding a new subparagraph 1-a to read as follows:
   (1-A)  ACTIVITIES, INCLUDING, BUT NOT LIMITED TO, THE OFFERING OF LOW-
 TO-NO INTEREST LOANS, THE WAIVING  OF  FEES,  AND  THE  MODIFICATION  OR
 EXTENSION  OF  EXISTING LOANS AND OTHER FINANCIAL INSTRUMENTS, CONDUCTED
 BY THE BANKING INSTITUTION TO SUPPORT PERSONS, SMALL BUSINESSES, MINORI-
 TY- AND WOMEN-OWNED BUSINESSES, AND CERTAIN NOT-FOR-PROFIT  CORPORATIONS
 AFFECTED  BY  THE OUTBREAK OF CORONAVIRUS DISEASE 2019 (COVID-19) DURING
 THE STATE DISASTER EMERGENCY DECLARED PURSUANT TO  EXECUTIVE  ORDER  TWO
 HUNDRED  TWO  AND  FOR  THE  SIX  MONTHS FOLLOWING THE END OF SUCH STATE
 DISASTER EMERGENCY. SUPPORT PROVIDED  TO  A  NOT-FOR-PROFIT  CORPORATION
 SHALL  ONLY  BE  CONSIDERED  FOR THE PURPOSES OF THIS SUBPARAGRAPH WHERE
 SUCH NOT-FOR-PROFIT CORPORATION UTILIZED ITS RESOURCES TO ASSIST  UNDER-
 SERVED COMMUNITIES DURING THE STATE DISASTER EMERGENCY DECLARED PURSUANT
 TO  EXECUTIVE ORDER TWO HUNDRED TWO AND FOR THE SIX MONTHS FOLLOWING THE
 END OF SUCH STATE DISASTER EMERGENCY. ACTIVITIES  AND  SUPPORT  PROVIDED
 SHALL  ONLY  BE CONSIDERED FOR THE PURPOSES OF THIS SUBPARAGRAPH IF SUCH
 SUPPORT IS CERTIFIED BY THE SUPERINTENDENT AS BEING BEYOND  THE  SUPPORT
 PROVIDED PURSUANT TO THE FEDERAL PAYCHECK PROTECTION PROGRAM;
   § 2. This act shall take effect immediately.
 
 
  EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                       [ ] is old law to be omitted.
                                                            LBD16116-03-0

2019-A10329B (ACTIVE) - Details

See Senate Version of this Bill:
S8442
Current Committee:
Assembly Banks
Law Section:
Banking Law
Laws Affected:
Amd §28-b, Bank L
Versions Introduced in 2021-2022 Legislative Session:
A6835, S957

2019-A10329B (ACTIVE) - Summary

Provides for assessment of activities conducted by the banking institution to support persons, small businesses, minority- and women-owned businesses, and certain not-for-profit corporations affected by the outbreak of coronavirus disease 2019 (COVID-19).

2019-A10329B (ACTIVE) - Bill Text download pdf 

                            
 
                     S T A T E   O F   N E W   Y O R K
 ________________________________________________________________________
 
                                 10329--B
 
                           I N  A S S E M B L Y
 
                              April 22, 2020
                                ___________
 
 Introduced  by M. of A. REYES -- read once and referred to the Committee
   on Banks -- committee discharged, bill amended, ordered  reprinted  as
   amended  and recommitted to said committee -- again reported from said
   committee with amendments, ordered reprinted as amended and  recommit-
   ted to said committee
 
 AN ACT to amend the banking law, in relation to assessment of the record
   of  performance  of  banking institutions in supporting persons, small
   businesses, minority- and women-owned businesses, and certain not-for-
   profit corporations affected by the outbreak of COVID-19
 
   THE PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND  ASSEM-
 BLY, DO ENACT AS FOLLOWS:
 
   Section 1. Paragraph (a) of subdivision 3 of section 28-b of the bank-
 ing law is amended by adding a new subparagraph 1-a to read as follows:
   (1-A)  ACTIVITIES,  INCLUDING,  BUT NOT LIMITED TO, THE OFFERING OF NO
 INTEREST LOANS, THE WAIVING OF FEES, AND THE MODIFICATION  OR  EXTENSION
 OF  EXISTING  LOANS  AND  OTHER  FINANCIAL INSTRUMENTS, CONDUCTED BY THE
 BANKING INSTITUTION TO SUPPORT PERSONS, SMALL BUSINESSES, MINORITY-  AND
 WOMEN-OWNED BUSINESSES, AND CERTAIN NOT-FOR-PROFIT CORPORATIONS AFFECTED
 BY  THE OUTBREAK OF CORONAVIRUS DISEASE 2019 (COVID-19) DURING THE STATE
 DISASTER EMERGENCY DECLARED PURSUANT TO EXECUTIVE ORDER TWO HUNDRED  TWO
 AND FOR THE SIX MONTHS FOLLOWING THE END OF SUCH STATE DISASTER EMERGEN-
 CY.  SUPPORT  PROVIDED  TO  A  NOT-FOR-PROFIT  CORPORATION SHALL ONLY BE
 CONSIDERED FOR THE PURPOSES OF THIS SUBPARAGRAPH WHERE SUCH NOT-FOR-PRO-
 FIT CORPORATION UTILIZED ITS RESOURCES TO ASSIST UNDERSERVED COMMUNITIES
 DURING THE STATE DISASTER EMERGENCY DECLARED PURSUANT TO EXECUTIVE ORDER
 TWO HUNDRED TWO AND FOR THE SIX MONTHS FOLLOWING THE END OF  SUCH  STATE
 DISASTER  EMERGENCY.  ACTIVITIES  AND  SUPPORT  PROVIDED  SHALL  ONLY BE
 CONSIDERED FOR THE PURPOSES OF THIS  SUBPARAGRAPH  IF  SUCH  SUPPORT  IS
 CERTIFIED  BY  THE  SUPERINTENDENT  AS BEING BEYOND THE SUPPORT PROVIDED
 PURSUANT TO THE FEDERAL PAYCHECK PROTECTION PROGRAM;
   § 2. This act shall take effect immediately.
 
 
  EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                       [ ] is old law to be omitted.
                                                            LBD16116-05-0

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