Bill Text: NY A08574 | 2017-2018 | General Assembly | Introduced

New York Assembly Bill 8574 (Prior Session Legislation)

Introduced

Bill Title: Relates to the procurement of banking services.

Spectrum: Partisan Bill (Democrat 15-0)

Status: (Introduced - Dead) 2017-12-15 - enacting clause stricken [A08574 Detail]

Download: New_York-2017-A08574-Introduced.html



                STATE OF NEW YORK
        ________________________________________________________________________
                                          8574
                               2017-2018 Regular Sessions
                   IN ASSEMBLY
                                      July 10, 2017
                                       ___________
        Introduced  by  M. of A. KAVANAGH, JAFFEE, TITONE, M. G. MILLER, WEPRIN,
          O'DONNELL, CRESPO, RODRIGUEZ, PRETLOW,  ABINANTI,  SIMANOWITZ,  PERRY,
          COLTON,  MOYA,  COOK, HOOPER -- Multi-Sponsored by -- M. of A. LUPARDO
          -- read once and referred to the Committee on Banks
        AN ACT to amend the state finance law, in relation to the procurement of
          banking services
          The People of the State of New York, represented in Senate and  Assem-
        bly, do enact as follows:
     1    Section  1.   The state finance law is amended by adding a new section
     2  163-c to read as follows:
     3    § 163-c. Procurement of  banking  services.  In  making  an  award  of
     4  contracts  for  banking  services,  as part of the scoring of offers, in
     5  addition to consideration of quality, cost and efficiency, a state agen-
     6  cy shall consider whether the financial institution has chosen to comply
     7  with the cap on the rate of interest authorized in section 5-501 of  the
     8  general  obligations  law  and established by subdivision one of section
     9  fourteen-a of the banking law in making loans to the  residents  of  the
    10  state.  The  scoring  shall  be  accomplished in accord with regulations
    11  adopted by the superintendent of financial services in consultation with
    12  the state comptroller.
    13    § 2. This act shall take effect on the one hundred twentieth day after
    14  it shall have become a law provided, however, that effective immediately
    15  the addition, amendment and/or repeal of any rule or  regulation  neces-
    16  sary  for  the  implementation  of  this  act  on its effective date are
    17  authorized and directed to be made and completed by  the  department  of
    18  financial services on or before such effective date.
         EXPLANATION--Matter in italics (underscored) is new; matter in brackets
                              [ ] is old law to be omitted.
                                                                   LBD00810-01-7