Bill Text: NY A08147 | 2011-2012 | General Assembly | Introduced

---

Bill Title: Relates to the maximum amount of funds which the state comptroller and the commissioner of taxation and finance may deposit and the maximum amount of funds on deposit at a community banking institution.

Spectrum: Partisan Bill (Democrat 1-0)

Status: (Introduced - Dead) 2012-06-13 - print number 8147a [A08147 Detail]

Download: New_York-2011-A08147-Introduced.html

---

                           S T A T E   O F   N E W   Y O R K
       ________________________________________________________________________
                                         8147
                              2011-2012 Regular Sessions
                                 I N  A S S E M B L Y
                                     June 2, 2011
                                      ___________
       Introduced  by M. of A. MAGEE -- read once and referred to the Committee
         on Banks
       AN ACT to amend the banking law,  in  relation  to  the  community  bank
         deposit program
         THE  PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND ASSEM-
       BLY, DO ENACT AS FOLLOWS:
    1    Section 1. Subdivision 2 of section 87 of the banking law, as  amended
    2  by chapter 274 of the laws of 2007, is amended to read as follows:
    3    2.  The  maximum  amount  of funds which the state comptroller and the
    4  commissioner of taxation and finance  may  deposit  under  this  program
    5  shall  not  exceed  [two] THREE hundred fifty million dollars each.  THE
    6  MAXIMUM AMOUNT OF FUNDS ON DEPOSIT AT A  COMMUNITY  BANKING  INSTITUTION
    7  SHALL NOT EXCEED TWENTY MILLION DOLLARS.
    8    S 2. This act shall take effect immediately.
        EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                             [ ] is old law to be omitted.
                                                                  LBD11214-01-1