Assembly Bill A10232

2017-2018 Legislative Session

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

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Archive: Last Bill Status - On Floor Calendar

  • 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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2017-A10232 (ACTIVE) - Details

See Senate Version of this Bill:
S7100
Law Section:
Banking Law
Laws Affected:
Amd §96-d, Bank L
Versions Introduced in Other Legislative Sessions:
2009-2010: A238, S5279
2011-2012: A5932, S34
2013-2014: A1118, S194
2015-2016: A5745, S157
2019-2020: A5085, S2342
2021-2022: S2902

2017-A10232 (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.

2017-A10232 (ACTIVE) - Bill Text download pdf 

                            
 
                     S T A T E   O F   N E W   Y O R K
 ________________________________________________________________________
 
                                   10232
 
                           I N  A S S E M B L Y
 
                              March 26, 2018
                                ___________
 
 Introduced  by  M.  of  A.  JEAN-PIERRE -- 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
 municipal or public moneys other than for the limited  purposes  of  the
 establishment  of a branch in a banking development district pursuant to
 this section. Any such municipal or public  funds  or  moneys  shall  be
 deposited  only  at the branch established pursuant to this section, and
 
  EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets

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