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Assembly Bill A8587

2019-2020 Legislative Session

Establishes a taxi industry predatory lending task force to study and analyze predatory lending practices affecting the taxi industry in the state

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Archive: Last Bill Status - In Assembly Committee

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2019-A8587 (ACTIVE) - Details

See Senate Version of this Bill:
S6539
Current Committee:
Assembly Banks
Law Section:
Financial Services
Versions Introduced in 2021-2022 Legislative Session:
A1476

2019-A8587 (ACTIVE) - Summary

Establishes a taxi industry predatory lending task force to study and analyze predatory lending practices affecting the taxi industry in the state.

2019-A8587 (ACTIVE) - Bill Text download pdf 

                            
 
                     S T A T E   O F   N E W   Y O R K
 ________________________________________________________________________
 
                                   8587
 
                        2019-2020 Regular Sessions
 
                           I N  A S S E M B L Y
 
                            September 13, 2019
                                ___________
 
 Introduced  by M. of A. REYES -- read once and referred to the Committee
   on Banks
 
 AN ACT to establish a taxi industry predatory lending  task  force;  and
   providing for the repeal of such provisions upon expiration thereof
 
   THE  PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND ASSEM-
 BLY, DO ENACT AS FOLLOWS:

   Section 1. There is hereby established  the  taxi  industry  predatory
 lending  task  force.  The  purpose  of  such task force is to study and
 analyze predatory lending practices affecting the taxi industry  in  the
 state.
   §  2.  The taxi industry predatory lending task force shall consist of
 10 members and shall include: the state comptroller or his or her desig-
 nee, the superintendent of financial services or his  or  her  designee,
 the  chairs  and  ranking  minority  members  of the senate and assembly
 committees on transportation or their designees, and 4 members appointed
 by the governor from the taxi industry. All appointments of  members  of
 the  taxi  industry  predatory lending task force shall be made no later
 than thirty days after the effective date of this act.
   § 3. The superintendent of financial services shall be  designated  as
 the  chairperson  of the taxi industry predatory lending task force. The
 members of the taxi industry predatory lending task  force  shall  serve
 without  compensation, except that members shall be allowed their neces-
 sary and actual expenses incurred in the  performance  of  their  duties
 under this act.
   §  4.  The  taxi  industry  predatory lending task force shall issue a
 report of its findings and recommendations to the governor,  the  tempo-
 rary  president  of  the senate and the speaker of the assembly no later
 than one year from the effective date of this act.
   § 5. This act shall take effect immediately and shall  expire  and  be
 deemed repealed two years after such effective date.
 
  EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                       [ ] is old law to be omitted.
                                                            LBD13264-01-9

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