NY State Senate Bill 2019-S6539

Senate Bill S6539

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

download bill text pdf

Archive: Last Bill Status - In Senate Committee Transportation Committee

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

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Actions

View Actions

	Assembly Actions - Lowercase Senate Actions - UPPERCASE
Jan 08, 2020	referred to transportation
Jun 15, 2019	referred to rules

2019-S6539 (ACTIVE) - Details

See Assembly Version of this Bill:: A8587
Current Committee:: Senate Transportation
Law Section:: Financial Services
Versions Introduced in 2021-2022 Legislative Session:: A1476

2019-S6539 (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-S6539 (ACTIVE) - Sponsor Memo

                                
 
BILL NUMBER: S6539

SPONSOR: KENNEDY
 
TITLE OF BILL:  An act to establish a taxi industry predatory lending
task force; and providing for the repeal of such provisions upon expira-
tion thereof

 
PURPOSE:

To study and analyze predatory lending practices affecting the taxi
industry in the state.

 
SUMMARY OF SPECIFIC PROVISIONS:

Section one establishes the task force, and its purpose.

Section two details the structure of the task force including the makeup
of the members.

Section three establishes that the superintendent of financial services
shall be designated chairperson of the task force. Moreover, it estab-

lishes that the members of the task force shall serve without compen-
sation, except that members shall be allowed their necessary and actual
expenses incurred in the performance of their duties under the act.

Section four details that the task force shall report their findings to
the governor and temporary president of the senate and the speaker of
the assembly no later than one year from the effective date.

Section five establishes the effective date.

 
JUSTIFICATION:

Predatory loans negatively affects taxi drivers in the State by burden-
ing them with increased debt. This also tends to effect largely small
business owners, constricting their hopes and dreams from being reached.
Establishing a task force will increase communication and conversation
between NYS government and organizations and will allow for better
informed decision making based on the study surrounding predatory lend-
ing.

 
LEGISLATIVE HISTORY:

New bill.

 
FISCAL IMPLICATIONS:

 
EFFECTIVE DATE:
This act shall take effect immediately and shall expire and be repealed
two years after such effective date.

2019-S6539 (ACTIVE) - Bill Text download pdf

                            
 
                     S T A T E   O F   N E W   Y O R K
 ________________________________________________________________________
 
                                   6539
 
                        2019-2020 Regular Sessions
 
                             I N  S E N A T E
 
                               June 15, 2019
                                ___________
 
 Introduced  by  Sen. KENNEDY -- read twice and ordered printed, and when
   printed to be committed to the Committee on Rules
 
 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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