New York S 4115: Relates to tax exemptions for properties in violation of zoning laws

Bill Text

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S04115 Summary:

BILL NOS04115 

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SAME ASNo Same As

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SPONSORCOMRIE

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COSPNSR

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MLTSPNSR

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Add Art 10 §§1001 - 1005, Fin Serv L

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Instructs the department of financial services to regulate consumer reporting agencies by requiring licensing of credit reporting agencies, and allowing the department to examine the books and records of consumer reporting agencies.

Go to top S04115 Actions:

BILL NOS04115 

&nbsp

02/03/2025REFERRED TO BANKS

01/07/2026REFERRED TO BANKS

Go to topS04115 Committee&nbspVotes:

Go to topS04115 Floor&nbspVotes:

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

Go to topS04115 Text:

 STATE OF NEW YORK
 ________________________________________________________________________

 4115

 2025-2026 Regular Sessions

 IN SENATE

 February 3, 2025
 ___________

 Introduced by Sen. COMRIE -- 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 regulation of
 consumer reporting agencies

 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 arti-
 2 cle 10 to read as follows:
 3 ARTICLE 10
 4 REGULATION OF CONSUMER REPORTING AGENCIES
 5 Section 1001. Definitions.
 6 1002. Authority of superintendent.
 7 1003. License requirements.
 8 1004. Superintendent authorized to examine.
 9 1005. Superintendent authorized to promulgate regulations.
 10 § 1001. Definitions. For the purposes of this article, the term
 11 "consumer reporting agency" shall mean any person which, for monetary
 12 fees, dues, or on a cooperative nonprofit basis, regularly engages in
 13 whole or in part in the practice of assembling or evaluating consumer
 14 credit information or other information on consumers for the purpose of
 15 furnishing consumer reports to third parties, and which uses any means
 16 or facility of interstate commerce for the purpose of preparing or
 17 furnishing consumer reports.
 18 § 1002. Authority of superintendent. The superintendent is hereby
 19 authorized and empowered to make such general rules and regulations, and
 20 such specific rulings, demands, and findings as may be necessary for the
 21 proper conduct of the business authorized and licensed under and for the
 22 enforcement of this article, in addition hereto and not inconsistent
 23 herewith.

 EXPLANATION--Matter in italics (underscored) is new; matter in brackets
 [ ] is old law to be omitted.
 LBD05394-01-5

 S. 4115 2

 1 § 1003. License requirements. (a) No person, partnership, association
 2 or corporation shall engage in the business of credit reporting without
 3 first obtaining a license from the superintendent.
 4 (b) Application for such license shall be in writing, under oath, and
 5 in the form prescribed by the superintendent, and shall contain the
 6 name, and the address both of the residence and place of business, of
 7 the applicant, and if the applicant is a co-partnership or association,
 8 of every member thereof, and if a corporation, of each officer and
 9 director thereof. Further, if the business is to be conducted at a
 10 specific address, the address at which the business is to be conducted,
 11 and in addition, such additional information as the superintendent may
 12 require.
 13 § 1004. Superintendent authorized to examine. (a) For the purpose of
 14 discovering violations of this article or securing information lawfully
 15 required in this section, the superintendent may at any time, and as
 16 often as may be determined, either personally or by a person duly desig-
 17 nated by the superintendent, investigate licensed consumer reporting
 18 agencies and examine the books, accounts, records, and files used there-
 19 in of every licensee.
 20 (b) For the purpose established in subdivision (a) of this section,
 21 the superintendent and such superintendent's duly designated represen-
 22 tatives shall have free access to the offices and places of business,
 23 books, accounts, papers, records, files, safes and vaults of all licen-
 24 sees. The superintendent shall have authority to require the attendance
 25 of and to examine under oath all persons whose testimony may be required
 26 r