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NY A05947
Bill
Status
3/3/2011
Primary Sponsor
Brian Kavanagh
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AI Summary
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Adds new Section 2891 to the Public Authorities Law requiring public authorities, commissions, and public benefit corporations to only deposit funds in banking institutions subject to the Community Reinvestment Act of 1977 (P.L. 95-128)
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Restricts deposits to banking institutions that have received a performance record rating of "satisfactory" or higher as determined under the Community Reinvestment Act and Section 28-B of the Banking Law
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Takes effect 180 days after becoming law
Legislative Description
Relates to funds of the state; prohibits certain public authorities, commissions or public benefit corporations from depositing moneys in certain banking institutions.
Last Action
held for consideration in ways and means
6/19/2012