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Assembly Bill A9573

2025-2026 Legislative Session

Relates to the community bank deposit program

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Current Bill Status - In Assembly Committee

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2025-A9573 (ACTIVE) - Details

See Senate Version of this Bill:
S8406
Current Committee:
Assembly Banks
Law Section:
Banking Law
Laws Affected:
Amd §87, Bank L

2025-A9573 (ACTIVE) - Summary

Relates to the community bank deposit program; increases the maximum amount of funds on deposit at a community banking institution to thirty million dollars.

2025-A9573 (ACTIVE) - Bill Text download pdf 

                             
                     S T A T E   O F   N E W   Y O R K
 ________________________________________________________________________
 
                                   9573
 
                           I N  A S S E M B L Y
 
                             January 21, 2026
                                ___________
 
 Introduced by M. of A. VANEL -- (at request of the State Comptroller) --
   read once and referred to the Committee on Banks
 
 AN  ACT  to  amend  the  banking  law, in relation to the community bank
   deposit program
 
   THE PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND  ASSEM-
 BLY, DO ENACT AS FOLLOWS:

   Section  1. Subdivision 2 of section 87 of the banking law, as amended
 by chapter 495 of the laws of 2013, is amended to read as follows:
   2. The maximum amount of funds which the  state  comptroller  and  the
 commissioner  of  taxation  and  finance  may deposit under this program
 shall not exceed two hundred fifty million  dollars  each.  The  maximum
 amount  of funds on deposit at a community banking institution shall not
 exceed [twenty] THIRTY million dollars.
   § 2. This act shall take effect immediately.
 
 
 
 
 
 
 
  EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                       [ ] is old law to be omitted.
                                                            LBD13338-01-5

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