Assembly Actions - Lowercase Senate Actions - UPPERCASE |
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Jun 02, 2022 | referred to banks ordered to third reading cal.1901 committee discharged and committed to rules |
Jun 03, 2022 | delivered to assembly passed senate |
May 31, 2022 | print number 8449b |
May 31, 2022 | amend (t) and recommit to finance |
May 20, 2022 | print number 8449a |
May 20, 2022 | amend (t) and recommit to finance |
Mar 02, 2022 | referred to finance |
senate Bill S8449B
Sponsored By
James Sanders Jr.
(D) 10th Senate District
Archive: Last Bill Status - Passed Senate
- Introduced
- In Committee
- On Floor Calendar
- Passed Senate
- Passed Assembly
- Delivered to Governor
- Signed/Vetoed by Governor
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Bill Amendments
S8449 - Details
S8449 - Summary
Establishes a temporary state commission to conduct a feasibility study to evaluate and make recommendations concerning the formation and control of a state public bank; provides if such study finds that the state bank is feasible, the legislature shall consider legislation to create a state public bank for New York.
S8449 - Sponsor Memo
BILL NUMBER: S8449 SPONSOR: SANDERS TITLE OF BILL: An act authorizing the department of financial services to conduct a feasibility study to evaluate and make recommendations concerning the formation and control of a state public bank for New York; making an appropriation therefor; and providing for the repeal of such provisions upon expiration thereof PURPOSE OR GENERAL IDEA OF BILL: This bill would authorize the department of financial services to conduct a feasibility study to evaluate and make recommendations concerning the formation and control of a state public bank for New York. SUMMARY OF PROVISIONS: The superintendent of the department of financial services is directed to hire a reputable consultant that has the capacity, capability, and
S8449 - Bill Text download pdf
S T A T E O F N E W Y O R K ________________________________________________________________________ 8449 I N S E N A T E March 2, 2022 ___________ Introduced by Sen. SANDERS -- read twice and ordered printed, and when printed to be committed to the Committee on Finance AN ACT authorizing the department of financial services to conduct a feasibility study to evaluate and make recommendations concerning the formation and control of a state public bank for New York; making an appropriation therefor; 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. The superintendent of the department of financial services is directed to hire a reputable consultant that has the capacity, capa- bility, and experience to conduct a feasibility study to evaluate and make recommendations concerning the formation and control of a state public bank. Consultants that have conducted a previous feasibility study of a public bank at the request of a government entity in the United States will be given preference. Should such study find that a state bank in New York is feasible, the Legislature shall pass legis- lation to create a state public bank for New York. § 2. The scope of such study shall include, but shall not be limited to: (a) the purposes of such public bank; (b) an analysis of cost savings, impacts on the state's finances, economic development and infrastructure, housing and additional needs of the state, including but not limited to: (i) appropriate governance structures; (ii) minimum capitalization requirements; (iii) appropriate insurance and risk management tools; (iv) charter requirements; (v) financial and operations framework; (vi) deposits; (vii) permitted activities; (viii) benefits; (ix) potential challenges that such public banks may encounter; EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets [ ] is old law to be omitted. LBD11521-04-2
S8449A - Details
S8449A - Summary
Establishes a temporary state commission to conduct a feasibility study to evaluate and make recommendations concerning the formation and control of a state public bank; provides if such study finds that the state bank is feasible, the legislature shall consider legislation to create a state public bank for New York.
S8449A - Sponsor Memo
BILL NUMBER: S8449A SPONSOR: SANDERS TITLE OF BILL: An act establishing a commission to determine what benefits a public bank or network of public banks owned by the state of New York or by a public authority constituted by the state of New York can provide; making an appropriation therefor; and providing for the repeal of such provisions upon expiration thereof PURPOSE OR GENERAL IDEA OF BILL: This bill would establish a temporary commission to determine what bene- fits a public bank or network of public banks owned by the state of New York or by a public authority constituted by the state of New York can provide. SUMMARY OF PROVISIONS: -Establish a temporary state commission, to be known as the New York state commission on establishing a bank owned by New York state,
S8449A - Bill Text download pdf
S T A T E O F N E W Y O R K ________________________________________________________________________ 8449--A I N S E N A T E March 2, 2022 ___________ Introduced by Sen. SANDERS -- read twice and ordered printed, and when printed to be committed to the Committee on Finance -- committee discharged, bill amended, ordered reprinted as amended and recommitted to said committee AN ACT establishing a commission to determine what benefits a public bank or network of public banks owned by the state of New York or by a public authority constituted by the state of New York can provide; making an appropriation therefor; 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. A temporary state commission, to be known as the New York state commission on establishing a bank owned by New York state, herein- after referred to as the commission, is hereby established to hire a consultant to study the feasibility of establishing a bank owned by the state of New York or by a public authority constituted by the state of New York for the public interest. § 2. (a) The commission shall consist of fifteen members, to be appointed as follows:(i) six members shall be appointed by the governor, one of whom shall be a representative of the New York state department of financial services, one shall be a representative from the New York state department of taxation and finance, the remaining four governor's appointees shall not be employees of the executive branch and at least one member shall represent the banking and financial industries of the state including, but not limited to, the New York bankers association, at least one member shall represent community banking, and no more than one member may be a representative of any financial services firm located within the state, including, but not limited to, the New York state small business development center; (ii) one member shall be the New York state comptroller or the comp- troller's designee; (iii) three members shall be appointed by the temporary president of the senate, one of whom shall be a member of the senate; EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets [ ] is old law to be omitted. LBD11521-07-2
S8449B (ACTIVE) - Details
S8449B (ACTIVE) - Summary
Establishes a temporary state commission to conduct a feasibility study to evaluate and make recommendations concerning the formation and control of a state public bank; provides if such study finds that the state bank is feasible, the legislature shall consider legislation to create a state public bank for New York.
S8449B (ACTIVE) - Sponsor Memo
BILL NUMBER: S8449B SPONSOR: SANDERS TITLE OF BILL: An act establishing a commission to determine what benefits a public bank or network of public banks owned by the state of New York or by a public authority constituted by the state of New York can provide; and providing for the repeal of such provisions upon expiration thereof PURPOSE OR GENERAL IDEA OF BILL: This bill would establish a temporary commission to determine what bene- fits a public bank or network of public banks owned by the state of New York or by a public authority constituted by the state of New York can provide. SUMMARY OF PROVISIONS: -Establish a temporary state commission, to be known as the New York state commission on establishing a bank owned by New York state, herein-after referred to as the commission, is hereby established to
S8449B (ACTIVE) - Bill Text download pdf
S T A T E O F N E W Y O R K ________________________________________________________________________ 8449--B I N S E N A T E March 2, 2022 ___________ Introduced by Sen. SANDERS -- read twice and ordered printed, and when printed to be committed to the Committee on Finance -- committee discharged, bill amended, ordered reprinted as amended and recommitted to said committee -- committee discharged, bill amended, ordered reprinted as amended and recommitted to said committee AN ACT establishing a commission to determine what benefits a public bank or network of public banks owned by the state of New York or by a public authority constituted by the state of New York can provide; 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. A temporary state commission, to be known as the New York state commission on establishing a bank owned by New York state, herein- after referred to as the commission, is hereby established to hire a consultant to study the feasibility of establishing a bank owned by the state of New York or by a public authority constituted by the state of New York for the public interest. § 2. (a) The commission shall consist of fifteen members, to be appointed as follows:(i) six members shall be appointed by the governor, one of whom shall be a representative of the New York state department of financial services, one shall be a representative from the New York state department of taxation and finance, the remaining four governor's appointees shall not be employees of the executive branch and at least one member shall represent the banking and financial industries of the state including, but not limited to, the New York bankers association, at least one member shall represent community banking, and no more than one member may be a representative of any financial services firm located within the state, including, but not limited to, the New York state small business development center; (ii) one member shall be the New York state comptroller or the comp- troller's designee; (iii) three members shall be appointed by the temporary president of the senate, one of whom shall be a member of the senate; EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets [ ] is old law to be omitted. LBD11521-09-2
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