Assembly Bill A9338

Signed By Governor
2021-2022 Legislative Session

Requires the superintendent of financial services to maintain and annually update a list of financial institutions that waive wire transfer or processing fees associated with Holocaust reparations payments

download bill text pdf

Sponsored By

Archive: Last Bill Status Via S8318 - Signed by Governor

  • 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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2021-A9338 (ACTIVE) - Details

See Senate Version of this Bill:
S8318
Law Section:
Banking Law
Laws Affected:
Add §18-b, Bank L

2021-A9338 (ACTIVE) - Summary

Requires the superintendent of financial services to maintain and annually update a list of financial institutions that waive wire transfer or processing fees associated with Holocaust reparations payments.

2021-A9338 (ACTIVE) - Bill Text download pdf 

                             
                     S T A T E   O F   N E W   Y O R K
 ________________________________________________________________________
 
                                   9338
 
                           I N  A S S E M B L Y
 
                             February 23, 2022
                                ___________
 
 Introduced  by  M.  of  A.  EICHENSTEIN -- read once and referred to the
   Committee on Banks
 
 AN ACT to amend the banking law, in relation to waivers for wire  trans-
   fer or processing fees associated with Holocaust reparations payments
 
   THE  PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND ASSEM-
 BLY, DO ENACT AS FOLLOWS:

   Section 1. The banking law is amended by adding a new section 18-b  to
 read as follows:
   §  18-B.  HOLOCAUST  REPARATIONS PAYMENT FEES. 1.  FOR THE PURPOSES OF
 THIS SECTION, "VICTIMS OR TARGETS OF NAZI PERSECUTION" MEANS  ANY  INDI-
 VIDUAL,  CORPORATION,  PARTNERSHIP,  SOLE PROPRIETORSHIP, UNINCORPORATED
 ASSOCIATION, COMMUNITY,  CONGREGATION,  GROUP,  ORGANIZATION,  OR  OTHER
 ENTITY PERSECUTED OR TARGETED FOR PERSECUTION BY THE NAZI REGIME BECAUSE
 OF  RACE,  RELIGION,  ETHNICITY, SEXUAL ORIENTATION, NATIONAL ORIGIN, OR
 PHYSICAL OR MENTAL DISABILITY OR HANDICAP,  OR  THE  HEIRS,  SUCCESSORS,
 ADMINISTRATORS,  EXECUTORS,  AFFILIATES, OR ASSIGNEES OF SUCH VICTIMS OR
 TARGETS, OR ANY OTHER CLAIMANT RECEIVING FUNDS FROM AN ELIGIBLE  SETTLE-
 MENT FUND, OR FROM AN ELIGIBLE GRANTOR TRUST ESTABLISHED FOR THE BENEFIT
 OF  SUCH  VICTIMS  OR  TARGETS. AN ELIGIBLE SETTLEMENT FUND IS AN ENTITY
 THAT IS TREATED FOR FEDERAL INCOME TAX PURPOSES AS A DESIGNATED OR QUAL-
 IFIED SETTLEMENT FUND, AS SUCH TERM IS DEFINED IN SECTION  468B  OF  THE
 INTERNAL  REVENUE  CODE  AND THE REGULATIONS THEREUNDER, WHICH IS ESTAB-
 LISHED FOR THE PRINCIPAL PURPOSE  OF  RESOLVING  AND  SATISFYING  CLAIMS
 ARISING FROM OR IN CONNECTION WITH ANY ACT OR OMISSION IN ANY WAY RELAT-
 ING  TO  THE  HOLOCAUST,  WORLD  WAR  II  AND ITS PRELUDE AND AFTERMATH,
 VICTIMS OR TARGETS OF NAZI PERSECUTION, TRANSACTIONS WITH OR ACTIONS  OF
 THE NAZI REGIME, OR TREATMENT OF REFUGEES FLEEING NAZI PERSECUTION BY OR
 IN THE SWISS CONFEDERATION. AN ELIGIBLE GRANTOR TRUST IS A GRANTOR TRUST
 WHICH IS ESTABLISHED FOR THE PRINCIPAL PURPOSE OF RESOLVING AND SATISFY-
 ING SUCH CLAIMS.
   2.  THE  SUPERINTENDENT  SHALL  MAINTAIN AND ANNUALLY UPDATE A LIST OF
 BANKS AND OTHER FINANCIAL INSTITUTIONS DOING BUSINESS IN THE STATE  THAT
 VOLUNTARILY  WAIVE  WIRE TRANSFER FEES AND OTHER PROCESSING FEES IMPOSED
 FOR AUTOMATED DEPOSITS OR TRANSFERS OF AMOUNTS RECEIVED (INCLUDING ACCU-
 
  EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                       [ ] is old law to be omitted.

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