Bill
Bill > A02720
NY A02720
NY A02720Establishes a temporary state commission to conduct a feasibility study to evaluate and make recommendations concerning the formation and control of a state public bank; provides if such study finds that the state bank is feasible, the commission may recommend legislation to create a state public bank for New York.
summary
Introduced
01/26/2023
01/26/2023
In Committee
01/03/2024
01/03/2024
Crossed Over
Passed
Dead
12/31/2024
12/31/2024
Introduced Session
2023-2024 General Assembly
Bill Summary
AN ACT establishing a commission to determine what benefits a public bank or network of public banks owned by the state of New York or by a public authority constituted by the state of New York can provide; and providing for the repeal of such provisions upon expiration thereof
AI Summary
This bill establishes a temporary state commission to conduct a feasibility study on the formation and control of a state public bank in New York. The commission, which will consist of 11 members appointed by the governor, senate, and assembly, will hire a consultant to evaluate the potential benefits, governance structures, financial frameworks, and challenges of establishing a state public bank. The commission is required to submit a report with its findings and legislative recommendations within 6-7 months of the bill's effective date. The bill is set to expire one year after it takes effect.
Committee Categories
Business and Industry
Sponsors (3)
Last Action
print number 2720b (on 04/11/2024)
Bill Topics
Banking, Finance, and Domestic Commerce
- ‐ Banking System and Financial Institution Regulation and Reform
Macroeconomics
- ‐ Industrial Policy
Official Document
bill text
bill summary
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bill summary
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bill summary
| Document Type | Source Location | Created |
|---|---|---|
| State Bill Page | https://www.nysenate.gov/legislation/bills/2023/A2720 | 01/26/2023 |
| BillText | https://assembly.state.ny.us/leg/?default_fld=&bn=A02720&term=2023&Summary=Y&Actions=Y&Text=Y&Committee%26nbspVotes=Y&Floor%26nbspVotes=Y#A02720B | 04/11/2024 |
| BillText | https://assembly.state.ny.us/leg/?default_fld=&bn=A02720&term=2023&Summary=Y&Actions=Y&Text=Y&Committee%26nbspVotes=Y&Floor%26nbspVotes=Y#A02720A | 05/03/2023 |
| BillText | https://assembly.state.ny.us/leg/?default_fld=&bn=A02720&term=2023&Summary=Y&Actions=Y&Text=Y&Committee%26nbspVotes=Y&Floor%26nbspVotes=Y#A02720 | 01/26/2023 |
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