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NY A09573

Bill

Official Source

Status

Introduced

1/21/2026

Primary Sponsor

Clyde Vanel

Click for details

Origin

Assembly

2025-2026 General Assembly

AI Summary

  • Increases the maximum amount of state funds that can be deposited at a single community banking institution from $20 million to $30 million
  • Amends Section 87 of the banking law governing the community bank deposit program
  • Maintains the existing $250 million cap on total deposits that may be made by the State Comptroller and Commissioner of Taxation and Finance each
  • Takes effect immediately upon enactment
  • Introduced at the request of the State Comptroller

Legislative Description

Relates to the community bank deposit program; increases the maximum amount of funds on deposit at a community banking institution to thirty million dollars.

Last Action

referred to banks

1/21/2026

Committee Referrals

Banks1/21/2026

Full Bill Text

No bill text available