Assembly Bill A3421

2019-2020 Legislative Session

Establishes the state financial literacy commission

download bill text pdf

Sponsored By

Archive: Last Bill Status - Stricken


  • Introduced
    • In Committee Assembly
    • In Committee Senate
    • On Floor Calendar Assembly
    • On Floor Calendar Senate
    • Passed Assembly
    • Passed Senate
  • Delivered to Governor
  • Signed By Governor

Do you support this bill?

Please enter your contact information

Home address is used to determine the senate district in which you reside. Your support or opposition to this bill is then shared immediately with the senator who represents you.

Optional services from the NY State Senate:

Create an account. An account allows you to officially support or oppose key legislation, sign petitions with a single click, and follow issues, committees, and bills that matter to you. When you create an account, you agree to this platform's terms of participation.

Include a custom message for your Senator? (Optional)

Enter a message to your senator. Many New Yorkers use this to share the reasoning behind their support or opposition to the bill. Others might share a personal anecdote about how the bill would affect them or people they care about.
Actions

2019-A3421 (ACTIVE) - Details

See Senate Version of this Bill:
S1589
Law Section:
Financial Services Law
Laws Affected:
Add Art 7 §§701 - 703, Fin Serv L
Versions Introduced in Other Legislative Sessions:
2015-2016: A10339, S7062
2017-2018: A5813, S3604
2021-2022: A1047, S574
2023-2024: A4605, S1750

2019-A3421 (ACTIVE) - Summary

Establishes the state financial literacy commission; creates a state financial literacy commission to measurably improve the financial literacy and financial capability of New York state residents.

2019-A3421 (ACTIVE) - Bill Text download pdf

                            
 
                     S T A T E   O F   N E W   Y O R K
 ________________________________________________________________________
 
                                   3421
 
                        2019-2020 Regular Sessions
 
                           I N  A S S E M B L Y
 
                             January 29, 2019
                                ___________
 
 Introduced  by  M.  of  A.  ZEBROWSKI  --  read once and referred to the
   Committee on Banks
 
 AN ACT to amend the financial services law, in relation to  establishing
   the state financial literacy commission
 
   THE  PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND ASSEM-
 BLY, DO ENACT AS FOLLOWS:

   Section 1. The financial services law is amended by adding a new arti-
 cle 7 to read as follows:
                                 ARTICLE 7
                    STATE FINANCIAL LITERACY COMMISSION
 SECTION 701. DEFINITIONS.
         702. STATE FINANCIAL LITERACY COMMISSION.
         703. POWERS AND DUTIES.
   § 701. DEFINITIONS. FOR THE PURPOSES OF THIS  ARTICLE,  THE  FOLLOWING
 TERMS SHALL HAVE THE FOLLOWING MEANINGS:
   1.  "FINANCIAL CAPABILITY" MEANS: (A) FINANCIAL LITERACY AND ACCESS TO
 APPROPRIATE FINANCIAL PRODUCTS; AND
   (B)(I) THE ABILITY TO ACT, INCLUDING  KNOWLEDGE,  SKILLS,  CONFIDENCE,
 AND MOTIVATION; AND
   (II)  THE  OPPORTUNITY  TO ACT, THROUGH ACCESS TO BENEFICIAL FINANCIAL
 PRODUCTS AND INSTITUTIONS.
   2. "FINANCIAL LITERACY" MEANS THE ABILITY TO USE KNOWLEDGE AND  SKILLS
 TO  MANAGE  FINANCIAL  RESOURCES EFFECTIVELY FOR A LIFETIME OF FINANCIAL
 WELL-BEING.
   § 702. STATE FINANCIAL LITERACY COMMISSION.  1.  THERE  IS  CREATED  A
 STATE  FINANCIAL LITERACY COMMISSION TO MEASURABLY IMPROVE THE FINANCIAL
 LITERACY AND FINANCIAL CAPABILITY OF NEW YORK STATE RESIDENTS.
   2. THE COMMISSION SHALL BE COMPOSED OF THE FOLLOWING MEMBERS:
   (A) THE STATE COMPTROLLER OR DESIGNEE;
   (B) THE COMMISSIONER OF EDUCATION OR DESIGNEE;
 
  EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                       [ ] is old law to be omitted.
                                                            LBD01592-01-9
              

Comments

Open Legislation is a forum for New York State legislation. All comments are subject to review and community moderation is encouraged.

Comments deemed off-topic, commercial, campaign-related, self-promotional; or that contain profanity, hate or toxic speech; or that link to sites outside of the nysenate.gov domain are not permitted, and will not be published. Attempts to intimidate and silence contributors or deliberately deceive the public, including excessive or extraneous posting/posts, or coordinated activity, are prohibited and may result in the temporary or permanent banning of the user. Comment moderation is generally performed Monday through Friday. By contributing or voting you agree to the Terms of Participation and verify you are over 13.

Create an account. An account allows you to sign petitions with a single click, officially support or oppose key legislation, and follow issues, committees, and bills that matter to you. When you create an account, you agree to this platform's terms of participation.