NY S03172

Establishes a temporary 15-member commission to study the feasibility of creating a state-owned bank or a bank operated by a New York public authority

Commission composition includes six governor appointees (including representatives from the banking department and tax department), the state comptroller, three senate appointees, one senate minority leader appointee, three assembly appointees, and one assembly minority leader appointee

Commission shall examine technical, legal and financial feasibility of a state bank; evaluate other states' experiences with state-owned banks; analyze how public funds are currently invested; and investigate potential benefits for agriculture, education, infrastructure, and economic development

Commission must hold at least three public hearings across different geographic regions and submit a written report with findings, recommendations, and draft legislation to the legislature and state website no later than one year after the effective date

Commission and all provisions automatically expire and are repealed one year after the act takes effect