|Assembly Actions - Lowercase
Senate Actions - UPPERCASE
|Jan 05, 2022||referred to finance|
|Jan 06, 2021||referred to finance|
senate Bill S1055
Current Bill Status - In Senate Committee Finance Committee
- In Committee
- On Floor Calendar
- Passed Senate
- Passed Assembly
- Delivered to Governor
- Signed/Vetoed by Governor
S1055 (ACTIVE) - Details
S1055 (ACTIVE) - Sponsor Memo
BILL NUMBER: S1055 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. Section 255: Definitions.
S1055 (ACTIVE) - Bill Text download pdf
S T A T E O F N E W Y O R K ________________________________________________________________________ 1055 2021-2022 Regular Sessions I N S E N A T E January 6, 2021 ___________ Introduced by Sen. SANDERS -- 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 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. EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets [ ] is old law to be omitted.
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