- Summary
- Actions
- Committee Votes
- Floor Votes
- Memo
- Text
- LFIN
- Chamber Video/Transcript
S00191 Summary:
BILL NO | S00191 |
  | |
SAME AS | SAME AS A05459 |
  | |
SPONSOR | SANDERS |
  | |
COSPNSR | COMRIE, HINCHEY, SKOUFIS |
  | |
MLTSPNSR | |
  | |
Amd 213, St Fin L; amd 454, Bank L | |
  | |
Authorizes credit unions to participate in the excelsior linked deposit program. |
S00191 Actions:
BILL NO | S00191 | |||||||||||||||||||||||||||||||||||||||||||||||||
  | ||||||||||||||||||||||||||||||||||||||||||||||||||
01/06/2021 | REFERRED TO FINANCE | |||||||||||||||||||||||||||||||||||||||||||||||||
04/21/2021 | 1ST REPORT CAL.714 | |||||||||||||||||||||||||||||||||||||||||||||||||
04/26/2021 | 2ND REPORT CAL. | |||||||||||||||||||||||||||||||||||||||||||||||||
04/27/2021 | ADVANCED TO THIRD READING | |||||||||||||||||||||||||||||||||||||||||||||||||
06/01/2021 | PASSED SENATE | |||||||||||||||||||||||||||||||||||||||||||||||||
06/01/2021 | DELIVERED TO ASSEMBLY | |||||||||||||||||||||||||||||||||||||||||||||||||
06/01/2021 | referred to ways and means | |||||||||||||||||||||||||||||||||||||||||||||||||
06/03/2021 | substituted for a5459 | |||||||||||||||||||||||||||||||||||||||||||||||||
06/03/2021 | ordered to third reading rules cal.326 | |||||||||||||||||||||||||||||||||||||||||||||||||
06/03/2021 | passed assembly | |||||||||||||||||||||||||||||||||||||||||||||||||
06/03/2021 | returned to senate | |||||||||||||||||||||||||||||||||||||||||||||||||
10/13/2021 | DELIVERED TO GOVERNOR | |||||||||||||||||||||||||||||||||||||||||||||||||
10/24/2021 | SIGNED CHAP.495 |
S00191 Committee Votes:
Go to topS00191 Floor Votes:
Yes
Abbate
Yes
Clark
Yes
Frontus
Yes
Lalor
Yes
Paulin
Yes
Sillitti
Yes
Abinanti
Yes
Colton
Yes
Galef
Yes
Lavine
Yes
Peoples-Stokes
Yes
Simon
Yes
Anderson
Yes
Conrad
Yes
Gallagher
Yes
Lawler
Yes
Perry
Yes
Simpson
Yes
Angelino
Yes
Cook
Yes
Gallahan
No
Lemondes
Yes
Pheffer Amato
Yes
Smith
Yes
Ashby
Yes
Cruz
Yes
Gandolfo
Yes
Lunsford
Yes
Pichardo
Yes
Smullen
Yes
Aubry
Yes
Cusick
Yes
Giglio JA
Yes
Lupardo
Yes
Pretlow
Yes
Solages
Yes
Barclay
Yes
Cymbrowitz
Yes
Giglio JM
Yes
Magnarelli
Yes
Quart
Yes
Steck
Yes
Barnwell
Yes
Darling
Yes
Glick
Yes
Mamdani
Yes
Ra
Yes
Stern
Yes
Barrett
Yes
Davila
Yes
Gonzalez-Rojas
Yes
Manktelow
Yes
Rajkumar
Yes
Stirpe
Yes
Barron
Yes
De La Rosa
No
Goodell
Yes
McDonald
Yes
Ramos
Yes
Tague
Yes
Benedetto
Yes
DeStefano
Yes
Gottfried
Yes
McDonough
Yes
Reilly
Yes
Tannousis
Yes
Bichotte Hermel
Yes
Dickens
Yes
Griffin
Yes
McMahon
Yes
Reyes
Yes
Taylor
Yes
Blankenbush
Yes
Dilan
Yes
Gunther
Yes
Meeks
Yes
Richardson
Yes
Thiele
Yes
Brabenec
Yes
Dinowitz
Yes
Hawley
Yes
Mikulin
Yes
Rivera J
Yes
Vanel
Yes
Braunstein
No
DiPietro
Yes
Hevesi
Yes
Miller B
Yes
Rivera JD
No
Walczyk
Yes
Bronson
Yes
Durso
Yes
Hunter
Yes
Miller M
Yes
Rodriguez
Yes
Walker
Yes
Brown
Yes
Eichenstein
Yes
Hyndman
Yes
Mitaynes
Yes
Rosenthal D
Yes
Wallace
Yes
Burdick
Yes
Englebright
Yes
Jackson
Yes
Montesano
Yes
Rosenthal L
Yes
Walsh
Yes
Burgos
Yes
Epstein
Yes
Jacobson
Yes
Morinello
Yes
Rozic
Yes
Weinstein
Yes
Burke
Yes
Fahy
Yes
Jean-Pierre
Yes
Niou
Yes
Salka
Yes
Weprin
Yes
Buttenschon
Yes
Fall
Yes
Jensen
ER
Nolan
Yes
Santabarbara
Yes
Williams
Yes
Byrne
Yes
Fernandez
Yes
Jones
Yes
Norris
Yes
Sayegh
No
Woerner
Yes
Byrnes
No
Fitzpatrick
Yes
Joyner
Yes
O'Donnell
Yes
Schmitt
Yes
Zebrowski
Yes
Cahill
ER
Forrest
Yes
Kelles
Yes
Otis
Yes
Seawright
Yes
Zinerman
Yes
Carroll
No
Friend
Yes
Kim
Yes
Palmesano
Yes
Septimo
Yes
Mr. Speaker
‡ Indicates voting via videoconference
S00191 Text:
Go to top STATE OF NEW YORK ________________________________________________________________________ 191 2021-2022 Regular Sessions IN SENATE (Prefiled) January 6, 2021 ___________ Introduced by Sen. SANDERS -- read twice and ordered printed, and when printed to be committed to the Committee on Finance AN ACT to amend the state finance law and the banking law, in relation to authorizing credit unions to participate in the excelsior linked deposit program The People of the State of New York, represented in Senate and Assem- bly, do enact as follows: 1 Section 1. Paragraph (b) of subdivision 14 of section 213 of the state 2 finance law, as added by chapter 25 of the laws of 1995, is amended to 3 read as follows: 4 (b) any thrift or credit union which an authorized depositor deter- 5 mines is eligible to accept linked deposits based upon criteria applied 6 by the authorized depositor in making determinations under section one 7 hundred five of this chapter, and which agrees to participate in the 8 program, provided that any linked deposit in such thrift or credit union 9 shall be secured in the same manner as moneys deposited pursuant to 10 section one hundred five of this chapter and such thrifts or credit 11 unions shall pledge assets or furnish other security satisfactory in 12 form and amount to the authorized depositor for the repayment of moneys. 13 Until April first, nineteen hundred ninety-six, in the determination of 14 thrifts eligible to accept linked deposits, the authorized depositor 15 shall give priority to applications by those thrifts seeking to make 16 linked loans in economic development regions in which fewer than ten 17 linked loans have been made on or before April first, nineteen hundred 18 ninety-five. Provided, however, that the granting of such priority shall 19 in no way relieve an authorized depositor of his or her duty and obli- 20 gation to review all thrift applications from all economic development 21 regions in the state on a timely basis. EXPLANATION--Matter in italics (underscored) is new; matter in brackets [] is old law to be omitted. LBD03905-01-1S. 191 2 1 § 2. The closing paragraph of subdivision 15 of section 213 of the 2 state finance law, as amended by chapter 291 of the laws of 2004, is 3 amended to read as follows: 4 This article and the related statutes that refer to this article do 5 not grant thrifts, credit unions, farm credit system institutions or the 6 New York business development corporation eligibility to accept public 7 funds or public moneys from public entities for investment purposes. For 8 farm credit system institutions, the linked deposit program is available 9 for loans with an agricultural purpose as defined by the farm credit act 10 of nineteen hundred seventy-one, as amended and regulations promulgated 11 thereunder. A linked deposit is intended to enable a lender to make a 12 linked loan to an eligible business and such deposit earns a yield lower 13 than posted rates in order to accomplish the goals of this article. 14 § 3. Section 213 of the state finance law is amended by adding a new 15 subdivision 24 to read as follows: 16 24. "Credit union" means any credit union chartered under article 17 eleven of the banking law or any federal credit union. 18 § 4. Section 454 of the banking law is amended by adding a new subdi- 19 vision 33-a to read as follows: 20 33-a. To accept moneys deposited by the commissioner of taxation and 21 finance or the comptroller as linked deposits and make linked loans 22 pursuant to article fifteen of the state finance law and to pledge 23 assets or furnish other security satisfactory in form and amount to the 24 depositor, for repayment of such moneys. 25 § 5. This act shall take effect immediately.