|Assembly Actions - Lowercase
Senate Actions - UPPERCASE
|Oct 13, 2020||referred to rules|
senate Bill S9044
Archive: Last Bill Status - In Senate Committee Rules Committee
- In Committee
- On Floor Calendar
- Passed Senate
- Passed Assembly
- Delivered to Governor
- Signed/Vetoed by Governor
S9044 (ACTIVE) - Details
S9044 (ACTIVE) - Sponsor Memo
BILL NUMBER: S9044 SPONSOR: SANDERS TITLE OF BILL: An act to amend the state finance law, in relation to establishing the state of New York public bank; and providing for the repeal of certain provisions upon expiration thereof PURPOSE: This bill would establish a State of New York Public Bank to use public funds for the public funds and increasing access to credit and capital in underbanked and/or economic disadvantaged communities SUMMARY OF PROVISIONS: This bill amends the state finance law to add a new article 17 to read State of New York Public Banks Act. Section 254: Legislative Intent.
S9044 (ACTIVE) - Bill Text download pdf
S T A T E O F N E W Y O R K ________________________________________________________________________ 9044 I N S E N A T E October 13, 2020 ___________ Introduced by Sen. SANDERS -- read twice and ordered printed, and when printed to be committed to the Committee on Rules AN ACT to amend the state finance law, in relation to establishing the state of New York public bank; and providing for the repeal of certain provisions upon expiration thereof THE PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND ASSEM- BLY, DO ENACT AS FOLLOWS: Section 1. The state finance law is amended by adding a new article 17 to read as follows: ARTICLE 17 STATE OF NEW YORK PUBLIC BANK ACT SECTION 254. LEGISLATIVE INTENT. 255. DEFINITIONS. 256. CREATION. 257. COMMISSION. 258. GOVERNANCE. 259. DEPOSIT OF PUBLIC FUNDS. 260. INVESTMENT OF STATE MONEYS. 261. INFRASTRUCTURE LOANS. 262. STUDENT LOANS. 263. BUSINESS, NON-PROFIT AND INDIVIDUAL LOANS. 264. TREASURY AND BANKING SERVICES. 265. MANAGEMENT. 266. ADVISORY BOARD. 267. FINANCIAL REGULATION. 268. REPORTING REQUIREMENTS. 269. ETHICAL REQUIREMENTS. 270. FEES AND TAXES. 271. BANK RECORDS. 272. CAPITALIZATION. 273. PUBLIC DEPOSITARY. 274. APPLICATION OF THIS CHAPTER TO THE PRESIDENT. 275. CASH AND DEMAND DEPOSITS AVAILABLE. 276. PERMITTED INVESTMENTS. EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
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