Assembly Actions -
Lowercase Senate Actions - UPPERCASE |
|
---|---|
May 31, 2022 |
print number 9711b |
May 31, 2022 |
amend (t) and recommit to banks |
May 24, 2022 |
print number 9711a |
May 24, 2022 |
amend (t) and recommit to banks |
Mar 28, 2022 |
referred to banks |
Assembly Bill A9711B
2021-2022 Legislative Session
Sponsored By
PEOPLES-STOKES
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
Actions
Bill Amendments
2021-A9711 - Details
2021-A9711 - Summary
Establishes a temporary state commission to conduct a feasibility study to evaluate and make recommendations concerning the formation and control of a state public bank; provides if such study finds that the state bank is feasible, the legislature shall consider legislation to create a state public bank for New York.
2021-A9711 - Bill Text download pdf
S T A T E O F N E W Y O R K ________________________________________________________________________ 9711 I N A S S E M B L Y March 28, 2022 ___________ Introduced by M. of A. PEOPLES-STOKES -- read once and referred to the Committee on Banks AN ACT authorizing the department of financial services to conduct a feasibility study to evaluate and make recommendations concerning the formation and control of a state public bank for New York; making an appropriation therefor; and providing for the repeal of such provisions upon expiration thereof THE PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND ASSEM- BLY, DO ENACT AS FOLLOWS: Section 1. The superintendent of the department of financial services is directed to hire a reputable consultant that has the capacity, capa- bility, and experience to conduct a feasibility study to evaluate and make recommendations concerning the formation and control of a state public bank. Consultants that have conducted a previous feasibility study of a public bank at the request of a government entity in the United States will be given preference. Should such study find that a state bank in New York is feasible, the Legislature shall pass legis- lation to create a state public bank for New York. § 2. The scope of such study shall include, but shall not be limited to: (a) the purposes of such public bank; (b) an analysis of cost savings, impacts on the state's finances, economic development and infrastructure, housing and additional needs of the state, including but not limited to: (i) appropriate governance structures; (ii) minimum capitalization requirements; (iii) appropriate insurance and risk management tools; (iv) charter requirements; (v) financial and operations framework; (vi) deposits; (vii) permitted activities; (viii) benefits; (ix) potential challenges that such public banks may encounter; EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets [ ] is old law to be omitted. LBD11521-04-2
2021-A9711A - Details
2021-A9711A - Summary
Establishes a temporary state commission to conduct a feasibility study to evaluate and make recommendations concerning the formation and control of a state public bank; provides if such study finds that the state bank is feasible, the legislature shall consider legislation to create a state public bank for New York.
2021-A9711A - Bill Text download pdf
S T A T E O F N E W Y O R K ________________________________________________________________________ 9711--A I N A S S E M B L Y March 28, 2022 ___________ Introduced by M. of A. PEOPLES-STOKES -- read once and referred to the Committee on Banks -- committee discharged, bill amended, ordered reprinted as amended and recommitted to said committee AN ACT establishing a commission to determine what benefits a public bank or network of public banks owned by the state of New York or by a public authority constituted by the state of New York can provide; making an appropriation therefor; and providing for the repeal of such provisions upon expiration thereof THE PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND ASSEM- BLY, DO ENACT AS FOLLOWS: Section 1. A temporary state commission, to be known as the New York state commission on establishing a bank owned by New York state, herein- after referred to as the commission, is hereby established to hire a consultant to study the feasibility of establishing a bank owned by the state of New York or by a public authority constituted by the state of New York for the public interest. § 2. (a) The commission shall consist of fifteen members, to be appointed as follows:(i) six members shall be appointed by the governor, one of whom shall be a representative of the New York state department of financial services, one shall be a representative from the New York state department of taxation and finance, the remaining four governor's appointees shall not be employees of the executive branch and at least one member shall represent the banking and financial industries of the state including, but not limited to, the New York bankers association, at least one member shall represent community banking, and no more than one member may be a representative of any financial services firm located within the state, including, but not limited to, the New York state small business development center; (ii) one member shall be the New York state comptroller or the comp- troller's designee; (iii) three members shall be appointed by the temporary president of the senate, one of whom shall be a member of the senate; (iv) one member shall be appointed by the minority leader of the senate; EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets [ ] is old law to be omitted.
2021-A9711B (ACTIVE) - Details
2021-A9711B (ACTIVE) - Summary
Establishes a temporary state commission to conduct a feasibility study to evaluate and make recommendations concerning the formation and control of a state public bank; provides if such study finds that the state bank is feasible, the legislature shall consider legislation to create a state public bank for New York.
2021-A9711B (ACTIVE) - Bill Text download pdf
S T A T E O F N E W Y O R K ________________________________________________________________________ 9711--B I N A S S E M B L Y March 28, 2022 ___________ Introduced by M. of A. PEOPLES-STOKES -- read once and referred to the Committee on Banks -- committee discharged, bill amended, ordered reprinted as amended and recommitted to said committee -- again reported from said committee with amendments, ordered reprinted as amended and recommitted to said committee AN ACT establishing a commission to determine what benefits a public bank or network of public banks owned by the state of New York or by a public authority constituted by the state of New York can provide; and providing for the repeal of such provisions upon expiration thereof THE PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND ASSEM- BLY, DO ENACT AS FOLLOWS: Section 1. A temporary state commission, to be known as the New York state commission on establishing a bank owned by New York state, herein- after referred to as the commission, is hereby established to hire a consultant to study the feasibility of establishing a bank owned by the state of New York or by a public authority constituted by the state of New York for the public interest. § 2. (a) The commission shall consist of fifteen members, to be appointed as follows:(i) six members shall be appointed by the governor, one of whom shall be a representative of the New York state department of financial services, one shall be a representative from the New York state department of taxation and finance, the remaining four governor's appointees shall not be employees of the executive branch and at least one member shall represent the banking and financial industries of the state including, but not limited to, the New York bankers association, at least one member shall represent community banking, and no more than one member may be a representative of any financial services firm located within the state, including, but not limited to, the New York state small business development center; (ii) one member shall be the New York state comptroller or the comp- troller's designee; (iii) three members shall be appointed by the temporary president of the senate, one of whom shall be a member of the senate; EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets [ ] is old law to be omitted. LBD11521-10-2
Comments
Open Legislation is a forum for New York State legislation. All comments are subject to review and community moderation is encouraged.
Comments deemed off-topic, commercial, campaign-related, self-promotional; or that contain profanity, hate or toxic speech; or that link to sites outside of the nysenate.gov domain are not permitted, and will not be published. Attempts to intimidate and silence contributors or deliberately deceive the public, including excessive or extraneous posting/posts, or coordinated activity, are prohibited and may result in the temporary or permanent banning of the user. Comment moderation is generally performed Monday through Friday. By contributing or voting you agree to the Terms of Participation and verify you are over 13.
Create an account. An account allows you to sign petitions with a single click, officially support or oppose key legislation, and follow issues, committees, and bills that matter to you. When you create an account, you agree to this platform's terms of participation.