Senate Bill S1755C

2023-2024 Legislative Session

Establishes a temporary state commission to conduct a feasibility study on the formation and control of a state public bank

download bill text pdf

Sponsored By

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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Votes

Bill Amendments

2023-S1755 - Details

See Assembly Version of this Bill:
A2720
Current Committee:
Assembly Banks
Law Section:
Banks
Versions Introduced in 2021-2022 Legislative Session:
A9711

2023-S1755 - 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 commission may recommend legislation to create a state public bank for New York.

2023-S1755 - Sponsor Memo

2023-S1755 - Bill Text download pdf

                             
                     S T A T E   O F   N E W   Y O R K
 ________________________________________________________________________
 
                                   1755
 
                        2023-2024 Regular Sessions
 
                             I N  S E N A T E
 
                             January 13, 2023
                                ___________
 
 Introduced  by  Sen. SANDERS -- read twice and ordered printed, and when
   printed to be committed to the Committee on Banks
 
 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.
                                                            LBD02072-01-3
 S. 1755                             2
              

2023-S1755A - Details

See Assembly Version of this Bill:
A2720
Current Committee:
Assembly Banks
Law Section:
Banks
Versions Introduced in 2021-2022 Legislative Session:
A9711

2023-S1755A - 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 commission may recommend legislation to create a state public bank for New York.

2023-S1755A - Sponsor Memo

2023-S1755A - Bill Text download pdf

                             
                     S T A T E   O F   N E W   Y O R K
 ________________________________________________________________________
 
                                  1755--A
 
                        2023-2024 Regular Sessions
 
                             I N  S E N A T E
 
                             January 13, 2023
                                ___________
 
 Introduced  by  Sen. SANDERS -- read twice and ordered printed, and when
   printed to be  committed  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; 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 fourteen 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)  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.
                                                            LBD02072-02-3
 S. 1755--A                          2
              

2023-S1755B - Details

See Assembly Version of this Bill:
A2720
Current Committee:
Assembly Banks
Law Section:
Banks
Versions Introduced in 2021-2022 Legislative Session:
A9711

2023-S1755B - 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 commission may recommend legislation to create a state public bank for New York.

2023-S1755B - Sponsor Memo

2023-S1755B - Bill Text download pdf

                             
                     S T A T E   O F   N E W   Y O R K
 ________________________________________________________________________
 
                                  1755--B
 
                        2023-2024 Regular Sessions
 
                             I N  S E N A T E
 
                             January 13, 2023
                                ___________
 
 Introduced  by  Sen. SANDERS -- read twice and ordered printed, and when
   printed to be  committed  to  the  Committee  on  Banks  --  committee
   discharged, bill amended, ordered reprinted as amended and recommitted
   to  said  committee  --  reported  favorably  from  said committee and
   committed to the Committee on Finance --  committee  discharged,  bill
   amended,  ordered reprinted as amended and recommitted to said commit-
   tee
 
 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 fourteen 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

  EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                       [ ] is old law to be omitted.
                                                            LBD02072-04-3
 S. 1755--B                          2
              

co-Sponsors

2023-S1755C (ACTIVE) - Details

See Assembly Version of this Bill:
A2720
Current Committee:
Assembly Banks
Law Section:
Banks
Versions Introduced in 2021-2022 Legislative Session:
A9711

2023-S1755C (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 commission may recommend legislation to create a state public bank for New York.

2023-S1755C (ACTIVE) - Sponsor Memo

2023-S1755C (ACTIVE) - Bill Text download pdf

                             
                     S T A T E   O F   N E W   Y O R K
 ________________________________________________________________________
 
                                  1755--C
 
                        2023-2024 Regular Sessions
 
                             I N  S E N A T E
 
                             January 13, 2023
                                ___________
 
 Introduced  by  Sen. SANDERS -- read twice and ordered printed, and when
   printed to be  committed  to  the  Committee  on  Banks  --  committee
   discharged, bill amended, ordered reprinted as amended and recommitted
   to  said committee -- recommitted to the Committee on Banks in accord-
   ance with Senate Rule 6, sec. 8 -- 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; 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  eleven  members,  to  be
 appointed  as  follows:(i) five members shall be appointed by the gover-
 nor, one of whom shall be a representative of the New York state depart-
 ment of financial services, one shall be a representative from  the  New
 York  state  department  of  taxation  and  finance, the remaining three
 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 associ-
 ation, 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;

  EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                       [ ] is old law to be omitted.
                                                            LBD02072-06-4
 S. 1755--C                          2
              

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