What's happening
Writing a plain-English summary… Track this bill to get it by email.
Why it matters
Albany, before your first meeting.
Every bill that moved yesterday, summarized in a sentence and ranked by impact. The Albany Scorecard follows on Sundays.
Free. Unsubscribe in one click. Want alerts on specific bills? Create an account.
Who cares
Headline styles
Sponsors
1 Co-sponsor
History
- Substituted by A2600A
- Ordered to third reading cal.1153
- Committee discharged and committed to rules
- Referred to banks
Companion bill
The same bill in the other chamber. A bill becomes law when one version passes both houses and the governor signs it, so either number can carry it.
Enables senior citizens to cash social security checks without maintaining an account at the bank honoring such check
Senate Floor Calendar · Sponsor Margaret Markey
Full text
The text isn't available here yet. Check nysenate.gov.
Sponsor's memo
BILL NUMBER:S7946
Title of bill
An act to amend the banking law, in relation to the negotiation of social security checks
Purpose or general idea of bill
Enables senior citizens to cash social security checks without maintaining an account at the bank honoring such check.
Summary of specific provisions
The banking law is amended by adding a new section 6-n requiring banks and foreign banking corporations in this state to cash properly endorsed social security checks upon presentation of sufficient identification, even though the payee is a non-depositor.
Justification
Senior citizens have difficulty cashing their social security checks in banks where they do not have an account and in banks where they have insufficient funds to cover the check. Many senior citizens who are unable to maintain sufficient funds in their account to cover their social security check resort to check cashing businesses where they charge a fee or have friends or family cash it for them. New York State social security checks should be negotiable regardless of non-depositor status.
Prior legislative history
A.416/S.1279 - 1994-1995 - Passed in Assembly A.1833-A/S.4876-A -1996-1997 - Passed in Assembly A.2636/S.2087 - 1998-1999 - Passed in Assembly A.202/S.91 - 2001-2002 Passed in Assembly A.126/S.381 - 2003-2004 Passed in Assembly A.415/S.573 - 2005-2006 Passed in Assembly A.5618/S.311 2007-2008 Referred to Banks
Fiscal implications
None.
Effective date
This act shall take effect on the sixtieth day after it shall have become a law.
Summaries, headlines and scores are AI-generated from the official bill text. How we score bills. Source: NYS Open Legislation.