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NY S07647
Bill
Status
2/2/2018
Primary Sponsor
Joseph Griffo
Click for details
AI Summary
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Requires the Superintendent of Financial Services to examine the Green Bank at least once each calendar year to assess net worth, management soundness, operating policies, and loan/investment performance.
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Green Bank examination applies the same standards used for loans and investments by financial institutions, though the Green Bank is not classified as a banking organization.
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New York State Energy Research and Development Authority (NYSERDA) shall pay the cost of each examination.
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Examination reports including findings, conclusions, and recommendations must be provided to NYSERDA, the State Comptroller, and the chairs of the Senate Finance Committee and Assembly Ways and Means Committee.
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Legislation takes effect immediately upon enactment.
Legislative Description
Requires the superintendent of financial services to examine the Green Bank at least once every calendar year and requires that a copy of such examination shall be furnished to NYSERDA, the state comptroller, the senate and the assembly.
Last Action
COMMITTED TO RULES
6/20/2018