Assembly Bill A2536

2023-2024 Legislative Session

Establishes the state of New York public bank

download bill text pdf

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Current 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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2023-A2536 (ACTIVE) - Details

See Senate Version of this Bill:
S1756
Current Committee:
Assembly Banks
Law Section:
State Finance Law
Laws Affected:
Add Art 17 §§254 - 277, St Fin L
Versions Introduced in Other Legislative Sessions:
2019-2020: S9044
2021-2022: A8857, S1055

2023-A2536 (ACTIVE) - Summary

Relates to establishing the state of New York public bank to use the state's depository assets to generate additional benefit for the people and the economy of the state.

2023-A2536 (ACTIVE) - Bill Text download pdf

                             
                     S T A T E   O F   N E W   Y O R K
 ________________________________________________________________________
 
                                   2536
 
                        2023-2024 Regular Sessions
 
                           I N  A S S E M B L Y
 
                             January 26, 2023
                                ___________
 
 Introduced  by M. of A. PEOPLES-STOKES, TAYLOR, JEAN-PIERRE -- read once
   and referred to the Committee on Banks
 
 AN ACT to amend the state finance law, in relation to  establishing  the
   state of New York public bank; and providing for the repeal of certain
   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 state finance law is amended by adding a new article 17
 to read as follows:
                                ARTICLE 17
                     STATE OF NEW YORK PUBLIC BANK ACT
 SECTION 254. LEGISLATIVE INTENT.
         255. DEFINITIONS.
         256. CREATION.
         257. COMMISSION.
         258. GOVERNANCE.
         259. DEPOSIT OF PUBLIC FUNDS.
         260. INVESTMENT OF STATE MONEYS.
         261. INFRASTRUCTURE LOANS.
         262. STUDENT LOANS.
         263. BUSINESS, NON-PROFIT AND INDIVIDUAL LOANS.
         264. TREASURY AND BANKING SERVICES.
         265. MANAGEMENT.
         266. ADVISORY BOARD.
         267. FINANCIAL REGULATION.
         268. REPORTING REQUIREMENTS.
         269. ETHICAL REQUIREMENTS.
         270. FEES AND TAXES.
         271. BANK RECORDS.
         272. CAPITALIZATION.
         273. PUBLIC DEPOSITARY.
 
  EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                       [ ] is old law to be omitted.
                                                            LBD02037-01-3
              

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