NY A00126

Establishes the New York State Infrastructure Development Bank within the banking department with a five-member board of directors (two public sector, three private sector members) appointed by the Governor for staggered terms up to six years.

Authorizes the bank to issue public benefit bonds, provide direct subsidies, borrow on capital markets, and lend to entities and commercial banks for funding energy, environmental, telecommunications, and transportation infrastructure projects.

Requires the bank to evaluate projects based on economic, environmental, and social benefits, with specific consideration for job creation, carbon emissions reduction, disadvantaged communities, workforce development for women and minorities, and smart growth principles.

Establishes three executive committees (Executive, Risk Management, and Audit) led by the Chief Executive Officer, Chief Risk Officer, and Chief Compliance Officer respectively, with staffing and compliance requirements.

Appropriates $250,000,000 to the banking department for the bank's operations and sets the authorization to expire December 31, 2028, with annual reporting requirements to the Governor and Legislature on project status and outcomes.