Senate Bill S1778

2019-2020 Legislative Session

Relates to establishing the empire state public bank

download bill text pdf

Sponsored By

Archive: Last Bill Status - In Senate Committee Finance 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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2019-S1778 (ACTIVE) - Details

See Assembly Version of this Bill:
A437
Current Committee:
Senate Finance
Law Section:
State Finance Law
Laws Affected:
Add Art 17 §§254 - 277, St Fin L
Versions Introduced in Other Legislative Sessions:
2017-2018: S8428, A10431
2021-2022: S3016, A3309
2023-2024: A4448

2019-S1778 (ACTIVE) - Summary

Relates to establishing the empire state public bank to use the state's depository assets to generate additional benefit for the people and the economy of the state.

2019-S1778 (ACTIVE) - Sponsor Memo

2019-S1778 (ACTIVE) - Bill Text download pdf

                            
 
                     S T A T E   O F   N E W   Y O R K
 ________________________________________________________________________
 
                                   1778
 
                        2019-2020 Regular Sessions
 
                             I N  S E N A T E
 
                             January 16, 2019
                                ___________
 
 Introduced by Sen. SEPULVEDA -- read twice and ordered printed, and when
   printed to be committed to the Committee on Finance
 
 AN  ACT  to amend the state finance law, in relation to establishing the
   empire state 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
                         EMPIRE STATE PUBLIC BANK
 SECTION 254. LEGISLATIVE INTENT.
         255. DEFINITIONS.
         256. CREATION.
         257. COMMISSION.
         258. TRANSITION BOARD.
         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.
 
  EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                       [ ] is old law to be omitted.
              

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