New York S 2027: Creates a banking development district working group

Bill Text

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S02027 Summary:

BILL NOS02027 

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SAME ASSAME AS A05167

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SPONSORSANDERS

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COSPNSR

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MLTSPNSR

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Add §96-dd, amd §96-d, Bank L

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Creates a banking development district working group to assess the banking development district program and provide an annual report to the governor and legislature on the strengths and weaknesses of such program; defines unbanked and underbanked.

Go to top S02027 Actions:

BILL NOS02027 

&nbsp

01/15/2025REFERRED TO BANKS

02/04/20251ST REPORT CAL.284

02/05/20252ND REPORT CAL.

02/10/2025ADVANCED TO THIRD READING 

02/24/2025PASSED SENATE

02/24/2025DELIVERED TO ASSEMBLY

02/24/2025referred to banks

01/07/2026died in assembly

01/07/2026returned to senate

01/07/2026REFERRED TO BANKS

02/26/2026REPORTED AND COMMITTED TO FINANCE

Go to topS02027 Committee&nbspVotes:

Go to topS02027 Floor&nbspVotes:

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

Go to topS02027 Text:

 STATE OF NEW YORK
 ________________________________________________________________________

 2027

 2025-2026 Regular Sessions

 IN SENATE

 January 15, 2025
 ___________

 Introduced by Sen. SANDERS -- 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 creating a banking
 development district working group; 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. The banking law is amended by adding a new section 96-dd to
 2 read as follows:
 3 § 96-dd. Banking development district working group. 1. A banking
 4 development district working group is hereby established to assess and
 5 provide recommendations and future goals for the banking development
 6 district program created under section ninety-six-d of this article.
 7 The superintendent shall impose an assessment on bank branches located
 8 within banking development districts to cover all costs associated with
 9 this work group.
 10 2. The banking district working group shall include the following
 11 individuals or their representatives, the superintendent, the state
 12 comptroller, the New York city comptroller, the commissioner of the New
 13 York city department of finance, the commissioner of empire state devel-
 14 opment, the chair of the senate banks committee, the chair of the senate
 15 commerce, economic development and small business committee, the chair
 16 of the assembly banks committee and the chair of the banking in under-
 17 served communities subcommittee.
 18 3. No later than one year after the effective date of this section,
 19 the working group shall provide an assessment of the current state of
 20 the banking development district program to the governor and the legis-
 21 lature, including, but not limited to the following information:
 22 a. the number of participating banking development district branches
 23 and where such branches are located;

 EXPLANATION--Matter in italics (underscored) is new; matter in brackets
 [ ] is old law to be omitted.
 LBD05828-01-5

 S. 2027 2

 1 b. ways the program is helping to serve the unbanked and underbanked
 2 as defined in subdivision one-a of section ninety-six-d of this article;
 3 c. the strengths and weaknesses of the program; and
 4 d. necessary measures that should be taken to build upon the strengths
 5 of the program and eliminate identified weaknesses.
 6 4. Annually thereafter, such working group shall continue to provide
 7 an assessment of the banking development district program to the gover-
 8 nor and the legislature. Along with the information required under
 9 subdivision three of this section, such assessment shall provide future
 10 goals for the program that shall be incorporated in the upcoming year to
 11 continue strengthening such program.
 12 § 2. Subdivision 1 of section 96-d of the banking law is amended by
 13 adding a new paragraph (b-1) to read as follows:
 14 (b-1) the numbers of unbanked and underbanked individuals within the
 15 district;
 16 § 3. Section 96-d of the banking law is amended by adding a new subdi-
 17 vision 1-a to read as follows:
 18 1-a. For the purposes of this section, the following terms shall have
 19 th