senate Bill S8318

2021-2022 Legislative Session

Requires the superintendent of financial services to maintain and annually update a list of financial institutions that waive wire transfer or processing fees associated with Holocaust reparations payments

download bill text pdf

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Current Bill Status - Delivered to Governor


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

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Actions

view actions (12)
Assembly Actions - Lowercase
Senate Actions - UPPERCASE
Aug 09, 2022 delivered to governor
May 24, 2022 returned to senate
passed assembly
ordered to third reading rules cal.343
substituted for a9338
May 18, 2022 referred to ways and means
delivered to assembly
passed senate
May 03, 2022 advanced to third reading
May 02, 2022 2nd report cal.
Apr 27, 2022 1st report cal.928
Feb 11, 2022 referred to banks

Co-Sponsors

S8318 (ACTIVE) - Details

See Assembly Version of this Bill:
A9338
Law Section:
Banking Law
Laws Affected:
Add §18-b, Bank L

S8318 (ACTIVE) - Summary

Requires the superintendent of financial services to maintain and annually update a list of financial institutions that waive wire transfer or processing fees associated with Holocaust reparations payments.

S8318 (ACTIVE) - Sponsor Memo

S8318 (ACTIVE) - Bill Text download pdf

 
                     S T A T E   O F   N E W   Y O R K
 ________________________________________________________________________
 
                                   8318
 
                             I N  S E N A T E
 
                             February 11, 2022
                                ___________
 
 Introduced  by  Sen.  MYRIE  -- 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 waivers for wire  trans-
   fer or processing fees associated with Holocaust reparations payments
 
   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 18-b  to
 read as follows:
   §  18-B.  HOLOCAUST  REPARATIONS PAYMENT FEES. 1.  FOR THE PURPOSES OF
 THIS SECTION, "VICTIMS OR TARGETS OF NAZI PERSECUTION" MEANS  ANY  INDI-
 VIDUAL,  CORPORATION,  PARTNERSHIP,  SOLE PROPRIETORSHIP, UNINCORPORATED
 ASSOCIATION, COMMUNITY,  CONGREGATION,  GROUP,  ORGANIZATION,  OR  OTHER
 ENTITY PERSECUTED OR TARGETED FOR PERSECUTION BY THE NAZI REGIME BECAUSE
 OF  RACE,  RELIGION,  ETHNICITY, SEXUAL ORIENTATION, NATIONAL ORIGIN, OR
 PHYSICAL OR MENTAL DISABILITY OR HANDICAP,  OR  THE  HEIRS,  SUCCESSORS,
 ADMINISTRATORS,  EXECUTORS,  AFFILIATES, OR ASSIGNEES OF SUCH VICTIMS OR
 TARGETS, OR ANY OTHER CLAIMANT RECEIVING FUNDS FROM AN ELIGIBLE  SETTLE-
 MENT FUND, OR FROM AN ELIGIBLE GRANTOR TRUST ESTABLISHED FOR THE BENEFIT
 OF  SUCH  VICTIMS  OR  TARGETS. AN ELIGIBLE SETTLEMENT FUND IS AN ENTITY
 THAT IS TREATED FOR FEDERAL INCOME TAX PURPOSES AS A DESIGNATED OR QUAL-
 IFIED SETTLEMENT FUND, AS SUCH TERM IS DEFINED IN SECTION  468B  OF  THE
 INTERNAL  REVENUE  CODE  AND THE REGULATIONS THEREUNDER, WHICH IS ESTAB-
 LISHED FOR THE PRINCIPAL PURPOSE  OF  RESOLVING  AND  SATISFYING  CLAIMS
 ARISING FROM OR IN CONNECTION WITH ANY ACT OR OMISSION IN ANY WAY RELAT-
 ING  TO  THE  HOLOCAUST,  WORLD  WAR  II  AND ITS PRELUDE AND AFTERMATH,
 VICTIMS OR TARGETS OF NAZI PERSECUTION, TRANSACTIONS WITH OR ACTIONS  OF
 THE NAZI REGIME, OR TREATMENT OF REFUGEES FLEEING NAZI PERSECUTION BY OR
 IN THE SWISS CONFEDERATION. AN ELIGIBLE GRANTOR TRUST IS A GRANTOR TRUST
 WHICH IS ESTABLISHED FOR THE PRINCIPAL PURPOSE OF RESOLVING AND SATISFY-
 ING SUCH CLAIMS.
   2.  THE  SUPERINTENDENT  SHALL  MAINTAIN AND ANNUALLY UPDATE A LIST OF
 BANKS AND OTHER FINANCIAL INSTITUTIONS DOING BUSINESS IN THE STATE  THAT
 VOLUNTARILY  WAIVE  WIRE TRANSFER FEES AND OTHER PROCESSING FEES IMPOSED
 FOR AUTOMATED DEPOSITS OR TRANSFERS OF AMOUNTS RECEIVED (INCLUDING ACCU-
 
  EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                       [ ] is old law to be omitted.

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