Bill Text: NY A01861 | 2017-2018 | General Assembly | Introduced
Bill Title: Relates to funds of the state; prohibits certain public authorities, commissions or public benefit corporations from depositing moneys in certain banking institutions.
Spectrum: Partisan Bill (Democrat 2-0)
Status: (Introduced - Dead) 2017-12-15 - enacting clause stricken [A01861 Detail]
Download: New_York-2017-A01861-Introduced.html
STATE OF NEW YORK ________________________________________________________________________ 1861 2017-2018 Regular Sessions IN ASSEMBLY January 13, 2017 ___________ Introduced by M. of A. KAVANAGH -- read once and referred to the Commit- tee on Corporations, Authorities and Commissions AN ACT to amend the public authorities law, in relation to funds of the state The People of the State of New York, represented in Senate and Assem- bly, do enact as follows: 1 Section 1. The public authorities law is amended by adding a new 2 section 2891 to read as follows: 3 § 2891. Deposits. Notwithstanding any other provisions of this chap- 4 ter, no public authority or public benefit corporation continued or 5 created by this chapter shall deposit its moneys in a banking institu- 6 tion to which the Community Reinvestment Act of 1977, United States P.L. 7 95-128, applies unless such institution has received a record of 8 performance no lower than satisfactory. 9 § 2. This act shall take effect on the one hundred eightieth day after 10 it shall have become a law. EXPLANATION--Matter in italics (underscored) is new; matter in brackets [] is old law to be omitted. LBD02728-01-7
