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NY S03676
Bill
Status
5/19/2021
Primary Sponsor
Leroy Comrie
Click for details
AI Summary
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Dedicates 10% of all penalties imposed and collected by the superintendent of financial services under banking law to the community development financial institution fund established under the New York state urban development corporation act.
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Dedicates 10% of all penalties imposed and collected by the superintendent of financial services under insurance law to the same community development financial institution fund.
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Applies to penalties collected under Section 44 of the banking law and Section 109 of the insurance law.
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Takes effect on September 1, 2021.
Legislative Description
Requires 10% of the penalties imposed by the superintendent of financial services to be deposited in the community development financial institution fund.
Last Action
REPORTED AND COMMITTED TO FINANCE
4/27/2022