New York A 6308: Relates to medical expenditure amounts

Bill Text

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A06308 Summary:

BILL NOA06308 

&nbsp

SAME ASNo Same As

&nbsp

SPONSORPeoples-Stokes

&nbsp

COSPNSRLevenberg, Meeks

&nbsp

MLTSPNSR

&nbsp

&nbsp

Establishes a temporary state commission to conduct a feasibility study to evaluate and make recommendations concerning the formation and control of a state public bank; provides if such study finds that the state bank is feasible, the commission may recommend legislation to create a state public bank for New York.

Go to top A06308 Actions:

BILL NOA06308 

&nbsp

03/03/2025referred to banks

01/07/2026referred to banks

Go to topA06308 Committee&nbspVotes:

Go to topA06308 Floor&nbspVotes:

There are no Assembly votes for this bill in this legislative session.

Go to topA06308 Text:

 STATE OF NEW YORK
 ________________________________________________________________________

 6308

 2025-2026 Regular Sessions

 IN ASSEMBLY

 March 3, 2025
 ___________

 Introduced by M. of A. PEOPLES-STOKES, LEVENBERG, MEEKS -- read once and
 referred to the Committee on Banks

 AN ACT establishing a commission to determine what benefits a public
 bank or network of public banks owned by the state of New York or by a
 public authority constituted by the state of New York can provide; 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. A temporary state commission, to be known as the New York
 2 state commission on establishing a bank owned by New York state, herein-
 3 after referred to as the commission, is hereby established to hire a
 4 consultant to study the feasibility of establishing a bank owned by the
 5 state of New York or by a public authority constituted by the state of
 6 New York for the public interest.
 7 § 2. (a) The commission shall consist of eleven members, to be
 8 appointed as follows:(i) five members shall be appointed by the gover-
 9 nor, one of whom shall be a representative of the New York state depart-
 10 ment of financial services, one shall be a representative from the New
 11 York state department of taxation and finance, the remaining three
 12 governor's appointees shall not be employees of the executive branch and
 13 at least one member shall represent the banking and financial industries
 14 of the state including, but not limited to, the New York bankers associ-
 15 ation, at least one member shall represent community banking, and no
 16 more than one member may be a representative of any financial services
 17 firm located within the state, including, but not limited to, the New
 18 York state small business development center;
 19 (ii) three members shall be appointed by the temporary president of
 20 the senate, one of whom shall be a member of the senate;
 21 (iii) three members shall be appointed by the speaker of the assembly,
 22 one of whom shall be a member of the assembly.

 EXPLANATION--Matter in italics (underscored) is new; matter in brackets
 [ ] is old law to be omitted.
 LBD01139-01-5

 A. 6308 2

 1 (b) The majority of the members of the entire commission shall desig-
 2 nate one of the commissioners to serve as the chair of the commission.
 3 (c) The members of the commission shall be appointed no later than
 4 ninety days after the effective date of this act.
 5 (d) The commission is directed to hire a reputable consultant that has
 6 the capacity, capability, and experience to conduct a feasibility study
 7 to evaluate and make recommendations concerning the formation and
 8 control of a state public bank. Consultants that have conducted a previ-
 9 ous feasibility study of a public bank at the request of a government
 10 entity in the United States will be given preference. Such study shall
 11 make recommendations, with the advice of the department of financial
 12 services, including but not limited to, on the feasibility of establish-
 13 ing a state bank in New York and may recommend legislation for the
 14 legislature to consider in order to create a state public bank for New
 15 York.
 16 § 3. The scope of such study shall include, but shall not be limited
 17 to:
 18 (a) the purposes of such public bank in the public interest;
 19 (b) an analysis of cost savings, impacts on the state's finances,
 20 economic development and infrastructu