Bill Title: Enacts provisions relating to the discontinuance of LIBOR (the London interbank offered rate); prohibits parties from refusing to perform contractual obligations or declaring a breach of contract as a result of the discontinuance of LIBOR or the use of a replacement; establishes that the replacement is a commercially reasonable substitute for and a commercially substantial equivalent to LIBOR; provides a safe harbor from litigation for the use of the recommended benchmark replacement.

Spectrum: Partisan Bill (Democrat 4-0)

Status: (Passed) 2021-04-06 - signed chap.94 [A00164 Detail]

Text: Latest bill text (Amended) [HTML]

---

Voting Records

Chamber	Vote	Date	Yea	Nay	NV	Abs	Total	Result	Source	View
Assembly	Assembly Floor Vote - Final Passage	2021-03-24	149	0	0	1	150	Passed	Link	View
Senate	Senate Floor Vote - Final Passage	2021-03-24	62	1	0	0	63	Passed	Link	View
Assembly	Assembly Rules Committee: Favorable	2021-03-24	28	0	0	3	31	Passed	Link	View
Assembly	Assembly Judiciary Committee: Favorable refer to committee Rules	2021-03-24	21	0	0	0	21	Passed	Link	View

Social Comments on NY A00164