Bill Text: NY S06296 | 2015-2016 | General Assembly | Introduced

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Bill Title: Establishes the New York state infrastructure development bank within the banking department, makes a $250,000,000 appropriation therefor and provides for the expiration thereof upon its repeal in 15 years.

Spectrum: Partisan Bill (Democrat 3-0)

Status: (Introduced - Dead) 2016-01-06 - REFERRED TO FINANCE [S06296 Detail]

Download: New_York-2015-S06296-Introduced.html

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                STATE OF NEW YORK
        ________________________________________________________________________
                                          6296
                    IN SENATE
                                       (Prefiled)
                                     January 6, 2016
                                       ___________
        Introduced  by  Sens. SQUADRON, DILAN -- read twice and ordered printed,
          and when printed to be committed to the Committee on Finance
        AN ACT to amend the banking law, in relation  to  establishing  the  New
          York  state  infrastructure  development bank; making an appropriation
          therefor; and providing for the repeal of such provisions upon expira-
          tion thereof
          The People of the State of New York, represented in Senate and  Assem-
        bly, do enact as follows:
     1    Section  1.  Short  title. This act shall be known and may be cited as
     2  the "New York state infrastructure development bank act".
     3    § 2. The banking law is amended by adding a new article 17 to read  as
     4  follows:
     5                                 ARTICLE 17
     6               NEW YORK STATE INFRASTRUCTURE DEVELOPMENT BANK
     7  Section 9100. Definitions.
     8          9101. Establishment.
     9          9102. Board of directors; powers and duties.
    10          9103. Executive committee.
    11          9104. Risk management committee.
    12          9105. Audit committee.
    13          9106. Eligibility criteria and assistance.
    14          9107. Exemption from local taxation.
    15          9108. Status  and  applicability  of  certain federal laws; full
    16                  faith and credit.
    17          9109. Audits and reports.
    18    § 9100. Definitions. For the purposes of this article:
    19    1. The term "bank" shall mean the New York state infrastructure devel-
    20  opment bank established pursuant to this article.
    21    2. The term "board" shall  mean  the  New  York  state  infrastructure
    22  development  bank board established under section ninety-one hundred two
    23  of this article.
         EXPLANATION--Matter in italics (underscored) is new; matter in brackets
                              [ ] is old law to be omitted.
                                                                   LBD04394-01-5