Bill Text: NY S00195 | 2015-2016 | General Assembly | Introduced

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Bill Title: Relates to the procurement of banking services.

Spectrum: Partisan Bill (Democrat 3-0)

Status: (Introduced - Dead) 2016-01-06 - REFERRED TO FINANCE [S00195 Detail]

Download: New_York-2015-S00195-Introduced.html

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                           S T A T E   O F   N E W   Y O R K
       ________________________________________________________________________
                                          195
                              2015-2016 Regular Sessions
                                   I N  S E N A T E
                                      (PREFILED)
                                    January 7, 2015
                                      ___________
       Introduced  by Sen. SQUADRON -- read twice and ordered printed, and when
         printed to be committed to the Committee on Finance
       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    S 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    S 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.
                                                                  LBD00984-01-5