senate Bill S1015

2021-2022 Legislative Session

Prohibits state chartered banking institutions from investing in and providing financing for private prisons

download bill text pdf

Sponsored By

Current 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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Actions

view actions (9)
Assembly Actions - Lowercase
Senate Actions - UPPERCASE
Jun 10, 2021 ordered to third reading rules cal.808
substituted for a7112
Feb 10, 2021 referred to banks
delivered to assembly
passed senate
Feb 02, 2021 advanced to third reading
Feb 01, 2021 2nd report cal.
Jan 26, 2021 1st report cal.188
Jan 06, 2021 referred to banks

Co-Sponsors

S1015 (ACTIVE) - Details

See Assembly Version of this Bill:
A7112
Law Section:
Banking Law
Laws Affected:
Add §12, Bank L
Versions Introduced in 2019-2020 Legislative Session:
S8722, A7580

S1015 (ACTIVE) - Summary

Prohibits state chartered banking institutions from investing in and providing financing for private prisons.

S1015 (ACTIVE) - Sponsor Memo

S1015 (ACTIVE) - Bill Text download pdf

 
                     S T A T E   O F   N E W   Y O R K
 ________________________________________________________________________
 
                                   1015
 
                        2021-2022 Regular Sessions
 
                             I N  S E N A T E
 
                                (PREFILED)
 
                              January 6, 2021
                                ___________
 
 Introduced  by Sens. BENJAMIN, BIAGGI, JACKSON -- read twice and ordered
   printed, and when printed to be committed to the Committee on Banks
 
 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.
                                                            LBD05078-01-1


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