NY A00115

Redefines "community bank institution" to include any state or federally chartered bank, trust company, savings bank, or savings and loan association with less than $10 billion in assets headquartered in New York with predominant operations serving New York residents and businesses.

Removes the previous requirement that institutions be chartered under New York banking law, allowing federally chartered institutions to participate on equal footing with state-chartered institutions.

Increases the maximum total deposit amount from $250 million to $300 million each for the state comptroller and the commissioner of taxation and finance under the community bank deposit program.

Removes the previous $20 million per-institution deposit cap, allowing larger deposits to individual community banks.

Requires the comptroller and commissioner of taxation and finance to submit a joint annual report to legislative leaders on program efficacy, including data on participating institutions, deposit amounts, and the percentage of total state funds deposited.