Senate Bill S5157

2023-2024 Legislative Session

Relates to funds of the state

download bill text pdf

Sponsored By

Current Bill Status - In Senate Committee Corporations, Authorities And Commissions Committee


  • Introduced
    • In Committee Assembly
    • In Committee Senate
    • On Floor Calendar Assembly
    • On Floor Calendar Senate
    • Passed Assembly
    • Passed Senate
  • Delivered to Governor
  • Signed By Governor

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2023-S5157 (ACTIVE) - Details

Current Committee:
Senate Corporations, Authorities And Commissions
Law Section:
Public Authorities Law
Laws Affected:
Add §2891, Pub Auth L
Versions Introduced in Other Legislative Sessions:
2009-2010: S8507
2011-2012: S2850
2013-2014: S2780
2015-2016: S2453
2017-2018: S2265
2019-2020: S4262
2021-2022: S4425

2023-S5157 (ACTIVE) - Summary

Relates to funds of the state; prohibits certain public authorities, commissions or public benefit corporations from depositing moneys in certain banking institutions.

2023-S5157 (ACTIVE) - Sponsor Memo

2023-S5157 (ACTIVE) - Bill Text download pdf

                             
                     S T A T E   O F   N E W   Y O R K
 ________________________________________________________________________
 
                                   5157
 
                        2023-2024 Regular Sessions
 
                             I N  S E N A T E
 
                             February 23, 2023
                                ___________
 
 Introduced  by  Sen.  PARKER -- read twice and ordered printed, and when
   printed to be committed to the Committee on Corporations,  Authorities
   and Commissions
 
 AN  ACT to amend the public authorities law, in relation to funds of the
   state
 
   THE PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND  ASSEM-
 BLY, DO ENACT AS FOLLOWS:
 
   Section  1.  The  public  authorities  law  is amended by adding a new
 section 2891 to read as follows:
   § 2891. DEPOSITS. NOTWITHSTANDING ANY OTHER PROVISIONS OF  THIS  CHAP-
 TER,  NO  PUBLIC  AUTHORITY,  COMMISSION  OR  PUBLIC BENEFIT CORPORATION
 CONTINUED OR CREATED BY THIS CHAPTER SHALL DEPOSIT ITS MONEYS IN A BANK-
 ING INSTITUTION TO WHICH THE COMMUNITY REINVESTMENT ACT OF 1977,  UNITED
 STATES  P.L.  95-128,  APPLIES  UNLESS  SUCH  INSTITUTION HAS RECEIVED A
 RECORD OF PERFORMANCE NO LOWER THAN  SATISFACTORY  AS  DETERMINED  UNDER
 SUCH ACT IN ACCORDANCE WITH SECTION TWENTY-EIGHT-B OF THE BANKING LAW.
   § 2. This act shall take effect on the one hundred eightieth day after
 it shall have become a law.
 
 
 
 

  EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                       [ ] is old law to be omitted.
                                                            LBD07218-01-3



              

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