New York A 4811: Requires accident and health insurance policies to cover the cost of genetic testing of persons with a family history of cancer

Bill Text

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A04811 Summary:

BILL NOA04811 

&nbsp

SAME ASNo Same As

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SPONSORVanel

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COSPNSRLunsford

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MLTSPNSR

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Add Art 2-D §§89 - 91, §454-a, Bank L; amd §§98-a & 105, St Fin L

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Establishes a credit union deposit program for the state to deposit a portion of funds under its control into credit unions.

Go to top A04811 Actions:

BILL NOA04811 

&nbsp

02/06/2025referred to banks

01/07/2026referred to banks

Go to topA04811 Committee&nbspVotes:

Go to topA04811 Floor&nbspVotes:

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

Go to topA04811 Text:

 STATE OF NEW YORK
 ________________________________________________________________________

 4811

 2025-2026 Regular Sessions

 IN ASSEMBLY

 February 6, 2025
 ___________

 Introduced by M. of A. VANEL, LUNSFORD -- read once and referred to the
 Committee on Banks

 AN ACT to amend the banking law and the state finance law, in relation
 to credit unions

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

 1 Section 1. The banking law is amended by adding a new article 2-D to
 2 read as follows:
 3 ARTICLE 2-D
 4 CREDIT UNION DEPOSIT PROGRAM
 5 Section 89. Credit union deposit program; purpose.
 6 90. Eligibility.
 7 91. Deposits.
 8 § 89. Credit union deposit program; purpose. In recognition of the
 9 economic benefits and stimulus which result from the placement of depos-
 10 its in local credit unions, the credit union deposit program is hereby
 11 created to authorize and encourage the state comptroller and the commis-
 12 sioner of taxation and finance to deposit a portion of the funds under
 13 their control into credit unions.
 14 § 90. Eligibility. 1. To be eligible to receive deposits, or to renew
 15 existing deposits under this program, a credit union must be chartered
 16 under the provisions of this chapter and must have a current examination
 17 rating of satisfactory or better. The superintendent shall, if requested
 18 by the state comptroller or the commissioner of taxation and finance,
 19 confirm whether a particular credit union meets the criteria specified
 20 in this section.
 21 2. A federal credit union may also be eligible to receive deposits, or
 22 to renew existing deposits, under this program if: (a) its principal
 23 office is located in this state; (b) it has a current examination rating
 24 of satisfactory or better; and (c) it meets any additional criteria
 25 established by the comptroller and the commissioner of taxation and

 EXPLANATION--Matter in italics (underscored) is new; matter in brackets
 [ ] is old law to be omitted.
 LBD08926-01-5

 A. 4811 2

 1 finance to determine eligibility for participation in the program. Such
 2 criteria may include a credit union's loan to deposit ratio, its record
 3 of small business lending, and the impact such deposits would have on an
 4 area's economic activity.
 5 § 91. Deposits. 1. Notwithstanding any provisions of law to the
 6 contrary, the state comptroller and the commissioner of taxation and
 7 finance shall, for the purposes of administering moneys in accordance
 8 with the provisions of sections ninety-eight-a and one hundred five of
 9 the state finance law, give consideration to depositing funds into those
 10 credit unions which are deemed eligible to receive deposits pursuant to
 11 section ninety of this article.
 12 2. The maximum amount of funds which the state comptroller and the
 13 commissioner of taxation and finance may deposit under this program
 14 shall not exceed two hundred fifty million dollars in aggregate for each
 15 eligible credit union pursuant to this section.
 16 3. Notwithstanding any provision of law to the contrary, any deposits
 17 made pursuant to this article shall be made at rates, and for such peri-
 18 ods of time, as may be agreed to by the state comptroller or the commis-
 19 sioner of taxation and finance and the eligible credit union.
 20 4. Any deposits made pursuant to this article may be secured by an
 21 irrevocable letter of credit issued by a federal home loan bank.
 22 § 2. The banking law is amended by adding a new section 454-a to read
 23 as follows:
 24 § 454-a. Deposits of public money with credit unions. A credit union
 25 may accept deposits of public money in accor