Bill Text: NY S02494 | 2013-2014 | General Assembly | Introduced

New York Senate Bill 2494 (Prior Session Legislation)

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.

Sponsorship: Partisan Bill (Republican 1)

Status: (Passed) 2013-11-13 - SIGNED CHAP.495 [S02494 Detail]

Download: New_York-2013-S02494-Introduced.html

                           S T A T E   O F   N E W   Y O R K
       ________________________________________________________________________
                                         2494
                              2013-2014 Regular Sessions
                                   I N  S E N A T E
                                   January 17, 2013
                                      ___________
       Introduced  by  Sen.  GRIFFO -- read twice and ordered printed, and when
         printed to be committed 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 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.
                                                                  LBD07267-01-3