New York S 6790: Requires the superintendent of financial services to examine the green bank at least once every calendar year

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S06790 Summary:

BILL NOS06790 

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SAME ASNo Same As

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SPONSORGRIFFO

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COSPNSRMATTERA, RHOADS

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MLTSPNSR

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Add §1859-a, Pub Auth L

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Requires the superintendent of financial services to examine the Green Bank at least once every calendar year; requires that a copy of such examination shall be furnished to NYSERDA, the state comptroller, the senate and the assembly.

Go to top S06790 Actions:

BILL NOS06790 

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03/24/2025REFERRED TO ENERGY AND TELECOMMUNICATIONS

01/07/2026REFERRED TO ENERGY AND TELECOMMUNICATIONS

Go to topS06790 Committee&nbspVotes:

Go to topS06790 Floor&nbspVotes:

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

Go to topS06790 Text:

 STATE OF NEW YORK
 ________________________________________________________________________

 6790

 2025-2026 Regular Sessions

 IN SENATE

 March 24, 2025
 ___________

 Introduced by Sen. GRIFFO -- read twice and ordered printed, and when
 printed to be committed to the Committee on Energy and Telecommuni-
 cations

 AN ACT to amend the public authorities law, in relation to the examina-
 tion of the Green Bank

 The People of the State of New York, represented in Senate and Assem-
 bly, do enact as follows:

 1 Section 1. The public authorities law is amended by adding a new
 2 section 1859-a to read as follows:
 3 § 1859-a. Examination. At least once in each calendar year, the Green
 4 Bank, a division of the New York state energy research and development
 5 authority, shall be examined by the superintendent of financial services
 6 for the purposes of determining such entity's net worth, the soundness
 7 of its management and operating policies and the rate of return on its
 8 loans and investments, and any losses on such loans and investments. The
 9 Green Bank shall not be deemed to be a banking organization; provided,
 10 however, that the Green Bank shall be examined applying the same stand-
 11 ards as applicable to loans and investments by financial institutions.
 12 The authority shall pay the cost of such examination. Copies of each
 13 examination report, including the findings, conclusions and recommenda-
 14 tions of the examiners, shall be furnished to the New York state energy
 15 research and development authority and to the comptroller and the
 16 respective chairs and ranking minority members of the senate finance
 17 committee and the assembly ways and means committee.
 18 § 2. This act shall take effect immediately.

 EXPLANATION--Matter in italics (underscored) is new; matter in brackets
 [ ] is old law to be omitted.
 LBD09904-01-5

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