New York S 114: Prohibits state chartered banking institutions from investing in and providing financing for private prisons

Bill Text

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S00114 Summary:

BILL NOS00114 

&nbsp

SAME ASSAME AS A04144

&nbsp

SPONSORCLEARE

&nbsp

COSPNSRBROUK, JACKSON, MAY

&nbsp

MLTSPNSR

&nbsp

Add §12, Bank L

&nbsp

Prohibits state chartered banking institutions from investing in and providing financing for private prisons.

Go to top S00114 Actions:

BILL NOS00114 

&nbsp

01/08/2025REFERRED TO BANKS

02/04/20251ST REPORT CAL.282

02/05/20252ND REPORT CAL.

02/10/2025ADVANCED TO THIRD READING 

05/21/2025PASSED SENATE

05/21/2025DELIVERED TO ASSEMBLY

05/22/2025referred to codes

01/07/2026died in assembly

01/07/2026returned to senate

01/07/2026REFERRED TO BANKS

01/28/20261ST REPORT CAL.186

01/29/20262ND REPORT CAL.

02/03/2026ADVANCED TO THIRD READING 

04/20/2026PASSED SENATE

04/20/2026DELIVERED TO ASSEMBLY

04/20/2026referred to codes

Go to topS00114 Committee&nbspVotes:

Go to topS00114 Floor&nbspVotes:

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

Go to topS00114 Text:

 STATE OF NEW YORK
 ________________________________________________________________________

 114

 2025-2026 Regular Sessions

 IN SENATE

 (Prefiled)

 January 8, 2025
 ___________

 Introduced by Sens. CLEARE, BROUK, JACKSON, MAY -- read twice and
 ordered printed, and when printed to be committed to the Committee on
 Banks

 AN ACT to amend the banking law, in relation to prohibiting state char-
 tered banking institutions from investing in and providing financing
 for private prisons

 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 section 12 to
 2 read as follows:
 3 § 12. Investments in private prisons by state chartered banking insti-
 4 tutions. 1. No state chartered banking institution shall provide financ-
 5 ing for or invest in the stocks, securities, or other obligations of any
 6 entity that owns or operates a private correctional facility for housing
 7 incarcerated individuals that would be prohibited under section one
 8 hundred twenty-one of the correction law if such facility were located
 9 in this state.
 10 2. For purposes of this section "banking institution" shall have the
 11 same meaning as defined in paragraph (b) of subdivision three of section
 12 nine-f of this chapter.
 13 § 2. This act shall take effect immediately and shall apply to all
 14 contracts entered into, renewed, modified or amended on or after such
 15 effective date.

 EXPLANATION--Matter in italics (underscored) is new; matter in brackets
 [ ] is old law to be omitted.
 LBD00211-01-5

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