STATE OF NEW YORK
________________________________________________________________________
8587
2019-2020 Regular Sessions
IN ASSEMBLY
September 13, 2019
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Introduced by M. of A. REYES -- read once and referred to the Committee
on Banks
AN ACT to establish a taxi industry predatory lending task force; and
providing for the repeal of such provisions upon expiration thereof
The People of the State of New York, represented in Senate and Assem-bly, do enact as follows:
1 Section 1. There is hereby established the taxi industry predatory
2 lending task force. The purpose of such task force is to study and
3 analyze predatory lending practices affecting the taxi industry in the
4 state.
5 § 2. The taxi industry predatory lending task force shall consist of
6 10 members and shall include: the state comptroller or his or her desig-
7 nee, the superintendent of financial services or his or her designee,
8 the chairs and ranking minority members of the senate and assembly
9 committees on transportation or their designees, and 4 members appointed
10 by the governor from the taxi industry. All appointments of members of
11 the taxi industry predatory lending task force shall be made no later
12 than thirty days after the effective date of this act.
13 § 3. The superintendent of financial services shall be designated as
14 the chairperson of the taxi industry predatory lending task force. The
15 members of the taxi industry predatory lending task force shall serve
16 without compensation, except that members shall be allowed their neces-
17 sary and actual expenses incurred in the performance of their duties
18 under this act.
19 § 4. The taxi industry predatory lending task force shall issue a
20 report of its findings and recommendations to the governor, the tempo-
21 rary president of the senate and the speaker of the assembly no later
22 than one year from the effective date of this act.
23 § 5. This act shall take effect immediately and shall expire and be
24 deemed repealed two years after such effective date.
EXPLANATION--Matter in italics (underscored) is new; matter in brackets
[] is old law to be omitted.
LBD13264-01-9
