New York State Assembly

Bill No.:  

 
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S02041 Summary:

BILL NO	S02041
SAME AS	No Same As
SPONSOR	TEDISCO
COSPNSR
MLTSPNSR
Add §208, Fin Serv L
Establishes a limitation on financial services assessments and appropriation suballocations; requires that money obtained from assessments shall only be used to defray operating expenses of the department of financial services.

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S02041 Actions:

BILL NO	S02041
01/18/2023	REFERRED TO BANKS
01/03/2024	REFERRED TO BANKS

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S02041 Committee Votes:

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S02041 Floor Votes:

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S02041 Text:

 
                STATE OF NEW YORK
        ________________________________________________________________________
 
                                          2041
 
                               2023-2024 Regular Sessions
 
                    IN SENATE
 
                                    January 18, 2023
                                       ___________
 
        Introduced  by  Sen. TEDISCO -- read twice and ordered printed, and when
          printed to be committed to the Committee on Banks
 
        AN ACT to amend the financial services law, in relation to a  limitation
          on financial services assessments and appropriation suballocations
 
          The  People of the State of New York, represented in Senate and Assem-
        bly, do enact as follows:
 
     1    Section 1. The financial services law  is  amended  by  adding  a  new
     2  section 208 to read as follows:
     3    §  208. Limitation on financial services assessments and appropriation
     4  suballocations. Notwithstanding any other law,  money  obtained  by  the
     5  department  from  assessments  on  banking  and  insurance organizations
     6  pursuant to section two hundred six of this article shall  not  be  used
     7  for  any  purpose other than to defray operating expenses, including all
     8  direct and indirect costs,  of  the  department.  Special  revenue-other
     9  funds  appropriation  suballocations to other agencies for non-insurance
    10  or banking programs and operations shall not be made out of  the  amount
    11  appropriated  to  the  department pursuant to section twenty-four of the
    12  state finance law.
    13    § 2. This act shall take effect immediately.
 
 
 
 
 
         EXPLANATION--Matter in italics (underscored) is new; matter in brackets
                              [ ] is old law to be omitted.
                                                                   LBD06472-01-3

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