Assembly Actions -
Lowercase Senate Actions - UPPERCASE |
|
---|---|
May 28, 2025 |
reported referred to ways and means |
May 23, 2025 |
referred to banks |
Assembly Bill A8665
2025-2026 Legislative Session
Sponsored By
VANEL
Current Bill Status - In Assembly 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
Actions
2025-A8665 (ACTIVE) - Details
- Current Committee:
- Assembly Ways And Means
- Law Section:
- Banking Law
- Laws Affected:
- Amd §96-d, Bank L
- Versions Introduced in 2023-2024 Legislative Session:
-
A5521
2025-A8665 (ACTIVE) - Summary
Relates to minority depository institutions which apply to establish a home or branch office in an unbanked or underbanked community; provides that such institutions shall be entitled to receive deposits from the state comptroller and the commissioner of taxation and finance.
2025-A8665 (ACTIVE) - Bill Text download pdf
S T A T E O F N E W Y O R K ________________________________________________________________________ 8665 2025-2026 Regular Sessions I N A S S E M B L Y May 23, 2025 ___________ Introduced by M. of A. VANEL -- read once and referred to the Committee on Banks AN ACT to amend the banking law, in relation to minority depository institutions which apply to establish a home or branch office in an unbanked or underbanked community THE PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND ASSEM- BLY, DO ENACT AS FOLLOWS: Section 1. Subdivision 5 of section 96-d of the banking law is amended by adding a new paragraph (c) to read as follows: (C) A MINORITY DEPOSITORY INSTITUTION AS DEFINED BY SECTION 308 OF THE FEDERAL FINANCIAL INSTITUTION REFORM, RECOVERY, AND ENFORCEMENT ACT OF 1989, WHICH HAS A HOME OR BRANCH OFFICE IN A COMMUNITY DETERMINED BY THE SUPERINTENDENT TO BE UNBANKED OR UNDERBANKED, AND WHICH IS NOT EXEMPT FROM THE PAYMENT OF CORPORATE FRANCHISE TAXES UNDER ARTICLE NINE-A OF THE TAX LAW, SHALL BE AUTHORIZED AND ENTITLED TO RECEIVE DEPOSITS FROM THE STATE COMPTROLLER AND THE COMMISSIONER OF TAXATION AND FINANCE IN ACCORDANCE WITH THE PROVISIONS OF SECTION NINETY-EIGHT-A AND SECTION ONE HUNDRED FIVE OF THE STATE FINANCE LAW, IN ADDITION TO THE MUNICIPAL DEPOSITS PROVIDED HEREIN. THE AMOUNT OF SUCH DEPOSITS SHALL BE DETER- MINED JOINTLY BY THE SUPERINTENDENT AND THE STATE COMPTROLLER. AUTHORI- ZATION PURSUANT TO THIS PARAGRAPH SHALL RUN CONCURRENTLY WITH THE TERM OF THE DESIGNATION OF A BANKING DEVELOPMENT DISTRICT APPROVED BY THE SUPERINTENDENT PURSUANT TO SUBDIVISION TWO OF THIS SECTION AND SHALL BE EXTENDED TO RUN CONCURRENTLY WITH ANY EXTENSION OF SUCH DESIGNATION BY THE SUPERINTENDENT PURSUANT TO SUBDIVISION TWO OF THIS SECTION. § 2. This act shall take effect immediately, provided, however, the amendments to subdivision 5 of section 96-d of the banking law made by section one of this act shall not affect the repeal of such subdivision and shall be deemed repealed therewith. EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets [ ] is old law to be omitted. LBD07996-03-5
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