 
                STATE OF NEW YORK
        ________________________________________________________________________
 
                                          8406
 
                               2025-2026 Regular Sessions
 
                    IN SENATE
 
                                      June 9, 2025
                                       ___________
 
        Introduced  by  Sen. SANDERS -- (at request of the State Comptroller) --
          read twice and ordered printed, and when printed to  be  committed  to
          the Committee on Rules
 
        AN  ACT  to  amend  the  banking  law, in relation to the community bank
          deposit program
 
          The People of the State of New York, represented in Senate and  Assem-
        bly, do enact as follows:
 
     1    Section  1. Subdivision 2 of section 87 of the banking law, as amended
     2  by chapter 495 of the laws of 2013, is amended to read as follows:
     3    2. The maximum amount of funds which the  state  comptroller  and  the
     4  commissioner  of  taxation  and  finance  may deposit under this program
     5  shall not exceed two hundred fifty million  dollars  each.  The  maximum
     6  amount  of funds on deposit at a community banking institution shall not
     7  exceed [twenty] thirty million dollars.
     8    § 2. This act shall take effect immediately.
 
 
 
 
 
 
         EXPLANATION--Matter in italics (underscored) is new; matter in brackets
                              [ ] is old law to be omitted.
                                                                   LBD13338-01-5
Relates to the community bank deposit program

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