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NY S08406

Bill

Official Source

Status

Engrossed

6/12/2025

Primary Sponsor

James Sanders

Click for details

Origin

Senate

2025-2026 General Assembly

AI Summary

  • Increases the maximum amount of funds that can be deposited at a single community banking institution from $20 million to $30 million under the community bank deposit program

  • Maintains the existing $250 million cap on total deposits that the State Comptroller and Commissioner of Taxation and Finance may each place in the program

  • Takes effect immediately upon passage

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

2/5/2026

Committee Referrals

Banks2/5/2026
Banks1/7/2026
Banks6/12/2025
Rules6/9/2025

Full Bill Text

No bill text available