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NY A03144

Bill

Official Source

Status

Introduced

1/23/2025

Primary Sponsor

Linda Rosenthal

Click for details

Origin

Assembly

2025-2026 General Assembly

AI Summary

  • Dedicates 10% of all fines and penalties collected by the Superintendent of Financial Services under the banking law to the Community Development Financial Institution (CDFI) Fund

  • Dedicates 10% of all penalties collected under the insurance law to the same CDFI Fund

  • The CDFI Fund is administered by the New York State Urban Development Corporation

  • Effective date is September 1st following enactment of the law

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

referred to banks

1/7/2026

Committee Referrals

Banks1/23/2025

Full Bill Text

No bill text available