 
                STATE OF NEW YORK
        ________________________________________________________________________
 
                                          1861
 
                               2017-2018 Regular Sessions
 
                   IN ASSEMBLY
 
                                    January 13, 2017
                                       ___________
 
        Introduced by M. of A. KAVANAGH -- read once and referred to the Commit-
          tee on Corporations, Authorities and Commissions
 
        AN  ACT to amend the public authorities law, in relation to funds of the
          state
 
          The People of the State of New York, represented in Senate and  Assem-
        bly, do enact as follows:

     1    Section  1.  The  public  authorities  law  is amended by adding a new
     2  section 2891 to read as follows:
     3    § 2891. Deposits. Notwithstanding any other provisions of  this  chap-
     4  ter,  no  public  authority  or  public benefit corporation continued or
     5  created by this chapter shall deposit its moneys in a  banking  institu-
     6  tion to which the Community Reinvestment Act of 1977, United States P.L.
     7  95-128,  applies  unless  such  institution  has  received  a  record of
     8  performance no lower than satisfactory.
     9    § 2. This act shall take effect on the one hundred eightieth day after
    10  it shall have become a law.
 
 
 
 
 
 
         EXPLANATION--Matter in italics (underscored) is new; matter in brackets
                              [ ] is old law to be omitted.
                                                                   LBD02728-01-7
Relates to funds of the state

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