Bill > S08406

This bill amends the New York State banking law to increase the maximum amount of funds that can be deposited at a single community banking institution from twenty million dollars to thirty million dollars. The bill is part of the community bank deposit program, which allows the state comptroller and the commissioner of taxation and finance to deposit funds into local community banks. By raising the deposit limit, the legislation aims to provide more financial support and liquidity to smaller, local banking institutions. The change is straightforward and will take effect immediately upon enactment, potentially allowing community banks to access additional state funds and improve their lending capabilities.

Business and Industry

https://www.nysenate.gov/legislation/bills/2025/S8406