Bill > A05842

This bill establishes the New York State Infrastructure Bank (NYSIB), a public benefit corporation designed to monitor, oversee, and provide financial assistance for infrastructure projects across the state. The bank will be governed by a five-member board appointed by the governor, with members representing different regions and having diverse public and private sector experience. The bank can issue public bonds, provide direct subsidies, borrow from global capital markets, and lend to entities for infrastructure projects. Eligible projects include a wide range of infrastructure types such as wastewater treatment, transportation, broadband, energy efficiency, affordable housing, and public facilities. When evaluating projects, the bank will consider factors like job creation, potential carbon emission reductions, economic growth, workforce development, environmental justice, and community benefits. The board will have discretion in providing financial assistance and will require annual reporting from funding recipients. Importantly, bonds issued by the bank will not constitute state debt and will not be backed by the state's full faith and credit. The bank must comply with federal and state regulations and submit annual reports to state leadership. The infrastructure bank aims to support critical infrastructure development across New York by providing flexible financial mechanisms and comprehensive project evaluation.

Budget and Finance

https://www.nysenate.gov/legislation/bills/2025/A5842