senate Bill S1055

2021-2022 Legislative Session

Establishes the state of New York public bank

download bill text pdf

Sponsored By

Current Bill Status - In Senate Committee Finance Committee


  • Introduced
  • In Committee
  • On Floor Calendar
    • Passed Senate
    • Passed Assembly
  • Delivered to Governor
  • Signed/Vetoed by Governor

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Actions

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Assembly Actions - Lowercase
Senate Actions - UPPERCASE
Jan 06, 2021 referred to finance

Co-Sponsors

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S1055 (ACTIVE) - Details

Current Committee:
Senate Finance
Law Section:
State Finance Law
Laws Affected:
Add Art 17 §§254 - 277, St Fin L
Versions Introduced in 2019-2020 Legislative Session:
S9044

S1055 (ACTIVE) - Summary

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

S1055 (ACTIVE) - Sponsor Memo

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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