Bill Text: NY A02239 | 2019-2020 | General Assembly | Introduced


Bill Title: Establishes the office of financial resilience to develop and implement new programs and initiatives for the purpose of supporting local economies and promoting resilient financial models.

Spectrum: Slight Partisan Bill (Democrat 3-1)

Status: (Introduced - Dead) 2020-01-08 - referred to banks [A02239 Detail]

Download: New_York-2019-A02239-Introduced.html


                STATE OF NEW YORK
        ________________________________________________________________________
                                          2239
                               2019-2020 Regular Sessions
                   IN ASSEMBLY
                                    January 22, 2019
                                       ___________
        Introduced by M. of A. KIM, RA, D'URSO, DAVILA -- read once and referred
          to the Committee on Banks
        AN  ACT to amend the banking law, in relation to establishing the office
          of financial resilience
          The People of the State of New York, represented in Senate and  Assem-
        bly, do enact as follows:
     1    Section  1.  The  banking law is amended by adding a new section 46 to
     2  read as follows:
     3    § 46. Office of financial resilience. 1. There is  hereby  established
     4  within  the  department  the  office of financial resilience. The super-
     5  intendent shall appoint the chief financial resilience officer and chief
     6  cooperative economist who shall appoint staff  and  perform  such  other
     7  functions  to  ensure  the  efficient operation of the office within the
     8  amounts made available therefor by appropriation.
     9    2. The office of financial resilience shall have the power and respon-
    10  sibility to:
    11    (a) develop and implement new programs and initiatives for the purpose
    12  of supporting local economies and promoting resilient financial  models.
    13  Such programs and initiatives shall assist local communities in:
    14    (i) creating community currencies;
    15    (ii) building blockchain-backed solutions to support local growth;
    16    (iii)  learning  how  to implement cooperative and peer-to-peer econo-
    17  mies;
    18    (iv) implementing strategies that will help communities connect  unmet
    19  needs with resources; and
    20    (v) coordinating efforts to turn student debt into functioning curren-
    21  cies;
    22    (b)  conduct workshops on financial topics and offer financial assist-
    23  ance and guidance to local communities interested  in  building  cooper-
    24  ative and peer-to-peer systems; and
    25    (c) advocate on behalf of blockchain startups and companies focused on
    26  building and supporting local economies.
    27    § 2. This act shall take effect immediately.
         EXPLANATION--Matter in italics (underscored) is new; matter in brackets
                              [ ] is old law to be omitted.
                                                                   LBD03975-01-9
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