Bill > S08449

This bill establishes a temporary state commission to conduct a feasibility study on the formation and control of a state public bank for New York. The commission is tasked with hiring a consultant to evaluate the potential benefits, challenges, and legal implications of creating a state-owned bank. If the study finds the state bank to be feasible, the legislature shall consider legislation to establish such a bank. The bill provides $500,000 in funding for the feasibility study and requires the commission to submit a report with its findings and recommendations within 6-7 months of the bill's effective date.