|Assembly Actions - Lowercase
Senate Actions - UPPERCASE
|Jul 23, 2020||referred to codes|
delivered to assembly
|Jul 22, 2020||ordered to third reading cal.949|
|Jul 21, 2020||reported and committed to rules|
|Jul 13, 2020||committee discharged and committed to banks|
|Jul 10, 2020||referred to rules|
senate Bill S8722
Archive: Last Bill Status - Passed Senate
- In Committee
- On Floor Calendar
- Passed Senate
- Passed Assembly
- Delivered to Governor
- Signed/Vetoed by Governor
S8722 (ACTIVE) - Details
S8722 (ACTIVE) - Sponsor Memo
BILL NUMBER: S8722 SPONSOR: BENJAMIN TITLE OF BILL: An act to amend the banking law, in relation to prohibiting state char- tered banking institutions from investing in and providing financing for private prisons PURPOSE: This bill prohibits New York state-chartered banks from financing private prisons. SUMMARY OF PROVISIONS: This bill adds a new section 12 to the State Banking Law to prohibit New York State chartered banking institutions from financing private pris- ons.
S8722 (ACTIVE) - Bill Text download pdf
S T A T E O F N E W Y O R K ________________________________________________________________________ 8722 I N S E N A T E July 10, 2020 ___________ Introduced by Sen. BENJAMIN -- read twice and ordered printed, and when printed to be committed to the Committee on Rules AN ACT to amend the banking law, in relation to prohibiting state char- tered banking institutions from investing in and providing financing for private prisons THE PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND ASSEM- BLY, DO ENACT AS FOLLOWS: Section 1. The banking law is amended by adding a new section 12 to read as follows: § 12. INVESTMENTS IN PRIVATE PRISONS BY STATE CHARTERED BANKING INSTI- TUTIONS. 1. NO STATE CHARTERED BANKING INSTITUTION SHALL PROVIDE FINANC- ING FOR OR INVEST IN THE STOCKS, SECURITIES, OR OTHER OBLIGATIONS OF ANY ENTITY THAT OWNS OR OPERATES A PRIVATE CORRECTIONAL FACILITY FOR HOUSING INMATES THAT WOULD BE PROHIBITED UNDER SECTION ONE HUNDRED TWENTY-ONE OF THE CORRECTION LAW IF SUCH FACILITY WERE LOCATED IN THIS STATE. 2. FOR PURPOSES OF THIS SECTION "BANKING INSTITUTION" SHALL HAVE THE SAME MEANING AS DEFINED IN PARAGRAPH (B) OF SUBDIVISION THREE OF SECTION NINE-F OF THIS CHAPTER. § 2. This act shall take effect immediately and shall apply to all contracts entered into, renewed, modified or amended on or after such effective date. EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets [ ] is old law to be omitted. LBD11393-12-0
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