NY S07914

Expands municipal deposit options to include savings banks, savings and loan associations, and credit unions in addition to existing banks and trust companies.

Limits public funds deposited in savings banks, credit unions, and savings and loan associations to $250,000 per institution.

Requires local governments to forward copies of deposit designation resolutions to the state comptroller for record-keeping purposes.

Allows local governments to temporarily invest funds in certificates of deposit and share certificates issued by eligible savings banks, credit unions, and savings and loan associations under specified conditions.

Becomes effective 90 days after enactment.