S T A T E   O F   N E W   Y O R K
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                                  9636--A
 
                           I N  A S S E M B L Y
 
                              March 26, 2024
                                ___________
 
 Introduced by M. of A. ANDERSON -- read once and referred to the Commit-
   tee  on Banks -- committee discharged, bill amended, ordered reprinted
   as amended and recommitted to said committee
 
 AN ACT to amend the banking law,  in  relation  to  creating  a  banking
   development  district  working  group; 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 banking law is amended by adding a new section 96-dd to
 read as follows:
   §  96-DD.  BANKING  DEVELOPMENT  DISTRICT  WORKING GROUP. 1. A BANKING
 DEVELOPMENT DISTRICT WORKING GROUP IS HEREBY ESTABLISHED TO  ASSESS  AND
 PROVIDE  RECOMMENDATIONS  AND  FUTURE  GOALS FOR THE BANKING DEVELOPMENT
 DISTRICT PROGRAM CREATED UNDER SECTION  NINETY-SIX-D  OF  THIS  ARTICLE.
 THE  SUPERINTENDENT  SHALL IMPOSE AN ASSESSMENT ON BANK BRANCHES LOCATED
 WITHIN BANKING DEVELOPMENT DISTRICTS TO COVER ALL COSTS ASSOCIATED  WITH
 THIS WORK GROUP.
   2.  THE  BANKING  DISTRICT  WORKING  GROUP SHALL INCLUDE THE FOLLOWING
 INDIVIDUALS OR THEIR  REPRESENTATIVES,  THE  SUPERINTENDENT,  THE  STATE
 COMPTROLLER,  THE NEW YORK CITY COMPTROLLER, THE COMMISSIONER OF THE NEW
 YORK CITY DEPARTMENT OF FINANCE, THE COMMISSIONER OF EMPIRE STATE DEVEL-
 OPMENT, THE CHAIR OF THE SENATE BANKS COMMITTEE, THE CHAIR OF THE SENATE
 COMMERCE, ECONOMIC DEVELOPMENT AND SMALL BUSINESS COMMITTEE,  THE  CHAIR
 OF  THE  ASSEMBLY BANKS COMMITTEE AND THE CHAIR OF THE BANKING IN UNDER-
 SERVED COMMUNITIES SUBCOMMITTEE.
   3. NO LATER THAN ONE YEAR AFTER THE EFFECTIVE DATE  OF  THIS  SECTION,
 THE  WORKING  GROUP  SHALL PROVIDE AN ASSESSMENT OF THE CURRENT STATE OF
 THE BANKING DEVELOPMENT DISTRICT PROGRAM TO THE GOVERNOR AND THE  LEGIS-
 LATURE, INCLUDING, BUT NOT LIMITED TO THE FOLLOWING INFORMATION:
   A.  THE  NUMBER OF PARTICIPATING BANKING DEVELOPMENT DISTRICT BRANCHES
 AND WHERE SUCH BRANCHES ARE LOCATED;
   B. WAYS THE PROGRAM IS HELPING TO SERVE THE UNBANKED  AND  UNDERBANKED
 AS DEFINED IN SUBDIVISION ONE-A OF SECTION NINETY-SIX-D OF THIS ARTICLE;
   C. THE STRENGTHS AND WEAKNESSES OF THE PROGRAM; AND
 
  EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                       [ ] is old law to be omitted.
              

                                                            LBD10318-08-4
 A. 9636--A                          2
 
   D. NECESSARY MEASURES THAT SHOULD BE TAKEN TO BUILD UPON THE STRENGTHS
 OF THE PROGRAM AND ELIMINATE IDENTIFIED WEAKNESSES.
   4.  ANNUALLY  THEREAFTER, SUCH WORKING GROUP SHALL CONTINUE TO PROVIDE
 AN ASSESSMENT OF THE BANKING DEVELOPMENT DISTRICT PROGRAM TO THE  GOVER-
 NOR  AND  THE  LEGISLATURE.  ALONG  WITH  THE INFORMATION REQUIRED UNDER
 SUBDIVISION THREE OF THIS SECTION, SUCH ASSESSMENT SHALL PROVIDE  FUTURE
 GOALS FOR THE PROGRAM THAT SHALL BE INCORPORATED IN THE UPCOMING YEAR TO
 CONTINUE STRENGTHENING SUCH PROGRAM.
   §  2.  Subdivision  1 of section 96-d of the banking law is amended by
 adding a new paragraph (b-1) to read as follows:
   (B-1) THE NUMBERS OF UNBANKED AND UNDERBANKED INDIVIDUALS  WITHIN  THE
 DISTRICT;
   § 3. Section 96-d of the banking law is amended by adding a new subdi-
 vision 1-a to read as follows:
   1-A.  FOR THE PURPOSES OF THIS SECTION, THE FOLLOWING TERMS SHALL HAVE
 THE FOLLOWING MEANINGS:
   A. "UNBANKED" SHALL MEAN AN INDIVIDUAL NOT SERVED BY AN INSURED INSTI-
 TUTION IN ANY CAPACITY; AND
   B. "UNDERBANKED" SHALL MEAN  AN  INDIVIDUAL  WITH  AN  ACCOUNT  AT  AN
 INSURED INSTITUTION BUT WHO HAS OBTAINED ALTERNATIVE, NONBANK, FINANCIAL
 SERVICES IN THE PAST TWELVE MONTHS.
   §  4.  This  act shall take effect immediately and shall expire and be
 deemed repealed 2 years after such date.