NY A00433

Establishes the New York State Infrastructure Development Bank within the banking department to provide financial assistance for energy, environmental, telecommunications, and transportation infrastructure projects.

Creates a five-member board of directors appointed by the governor (two public sector, three private sector representatives) with six-year terms, plus an executive committee with nine members including eight officers (chief financial officer, chief risk officer, chief compliance officer, general counsel, and others).

Authorizes the bank to issue public benefit bonds, borrow on capital markets, lend to entities and commercial banks, and purchase infrastructure-related loans; must conduct economic, environmental, and social analysis of projects prioritizing job creation and regional significance.

Establishes eligibility criteria for different infrastructure types including consideration of job creation, carbon emissions reduction, environmental justice, broadband expansion in disadvantaged communities, and workforce development for women and minorities.

Appropriates $250,000,000 from the state general fund to the banking department for implementation; requires annual reporting to the governor and legislature and a comprehensive state comptroller evaluation within five years; expires December 31, 2036.