Assembly Bill A5745

2015-2016 Legislative Session

Provides for the inclusion of low income credit unions in the banking development district program in N.Y. city

download bill text pdf

Sponsored By

Archive: Last 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

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2015-A5745 (ACTIVE) - Details

See Senate Version of this Bill:
S157
Current Committee:
Assembly Banks
Law Section:
Banking Law
Laws Affected:
Amd ยง96-d, Bank L
Versions Introduced in Other Legislative Sessions:
2009-2010: A238, S5279
2011-2012: A5932, S34
2013-2014: A1118, S194
2017-2018: A3942, A10232, S2021, S7100
2019-2020: A5085, S2342
2021-2022: S2902

2015-A5745 (ACTIVE) - Summary

Provides for the inclusion of low income credit unions in the banking development district program in cities having a population of one million or more persons.

2015-A5745 (ACTIVE) - Bill Text download pdf 

                            
                    S T A T E   O F   N E W   Y O R K
________________________________________________________________________

                                  5745

                       2015-2016 Regular Sessions

                          I N  A S S E M B L Y

                              March 4, 2015
                               ___________

Introduced  by  M. of A. KAVANAGH, JAFFEE, WRIGHT, MILLER, COOK, WEPRIN,
  HOOPER, COLTON -- Multi-Sponsored by -- M. of A. BRENNAN,  McLAUGHLIN,
  SIMANOWITZ -- read once and referred to the Committee on Banks

AN  ACT  to  amend  the banking law, in relation to including low income
  credit unions in the banking development district program

  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, as added
by chapter 526 of the laws of 1998, paragraph (a) as amended by  chapter
328 of the laws of 1999, and paragraph (b) as further amended by section
104  of  part A of chapter 62 of the laws of 2011, is amended to read as
follows:
  5. (a) Notwithstanding the provisions of subdivision  two  of  section
two  hundred  thirty-seven  of  this  chapter;  for the purposes of this
section, paragraph c of subdivision two of section ten  of  the  general
municipal  law, subdivision six of section one hundred five of the state
finance law and section four hundred eighty-five-f of the real  property
tax  law,  any reference to a bank, trust company or national bank shall
be deemed to include a  savings  bank,  savings  and  loan  association,
federal  savings  and  loan  association  or federal savings bank OR, IN
CITIES HAVING A POPULATION OF ONE  MILLION  OR  MORE  PERSONS,  ANY  LOW
INCOME  CREDIT  UNION  AS  DESIGNATED BY SECTION FOUR HUNDRED FIFTY-A OF
THIS CHAPTER OR ANY FEDERAL CREDIT UNION THAT HAS BEEN DESIGNATED A  LOW
INCOME  CREDIT  UNION  BY  THE  NATIONAL  CREDIT  UNION  ADMINISTRATION;
provided, however, that such provisions of law do not  grant  a  savings
bank, savings and loan association, federal savings and loan association
or federal savings bank OR, IN CITIES HAVING A POPULATION OF ONE MILLION
OR  MORE  PERSONS,  ANY LOW INCOME CREDIT UNION AS DESIGNATED BY SECTION
FOUR HUNDRED FIFTY-A OF THIS CHAPTER OR ANY FEDERAL  CREDIT  UNION  THAT
HAS  BEEN  DESIGNATED  A  LOW INCOME CREDIT UNION BY THE NATIONAL CREDIT
UNION ADMINISTRATION eligibility to accept municipal or public funds  or

 EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                      [ ] is old law to be omitted.
                                                           LBD00847-01-5

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