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

New York Assembly Bill 8147 (Prior Session Legislation)

NOTE: There are more recent revisions of this legislation. Read Latest Draft

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-Amended.html

                           S T A T E   O F   N E W   Y O R K
       ________________________________________________________________________
                                        8147--A
                              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 -- recommitted to the Committee on Banks in  accordance  with
         Assembly Rule 3, sec. 2 -- committee discharged, bill amended, ordered
         reprinted as amended and recommitted to said committee
       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 hundred fifty million dollars each.    THE  MAXIMUM
    6  AMOUNT  OF FUNDS ON DEPOSIT AT A COMMUNITY BANKING INSTITUTION SHALL NOT
    7  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.
                                                                  LBD11214-03-2