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NY A06601

Bill

Official Source

Status

Introduced

4/24/2023

Primary Sponsor

Karines Reyes

Click for details

Origin

Assembly

2023-2024 General Assembly

AI Summary

  • Prohibits state chartered banking institutions from providing financing for or investing in stocks, securities, or other obligations of entities that own or operate private correctional facilities
  • Applies to private prisons that would be prohibited under section 121 of the correction law if located in New York State
  • Defines "banking institution" as stated in paragraph (b) of subdivision three of section 9-f of the banking law
  • Takes effect immediately upon enactment and applies to all contracts entered into, renewed, modified, or amended on or after the effective date

Legislative Description

Prohibits state chartered banking institutions from investing in and providing financing for private prisons.

Last Action

ordered to third reading cal.190

1/3/2024

Committee Referrals

Rules5/16/2023
Codes5/9/2023
Banks4/24/2023

Full Bill Text

No bill text available