Senate Bill S195

2015-2016 Legislative Session

Relates to the procurement of banking services

download bill text pdf

Sponsored By

Archive: Last Bill Status - In Senate Committee Finance Committee


  • Introduced
    • In Committee Assembly
    • In Committee Senate
    • On Floor Calendar Assembly
    • On Floor Calendar Senate
    • Passed Assembly
    • Passed Senate
  • Delivered to Governor
  • Signed By Governor

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2015-S195 (ACTIVE) - Details

See Assembly Version of this Bill:
A5746
Current Committee:
Senate Finance
Law Section:
State Finance Law
Laws Affected:
Add §163-c, St Fin L
Versions Introduced in Other Legislative Sessions:
2011-2012: S6348, A9175
2013-2014: S217, A199
2017-2018: S483, A8574

2015-S195 (ACTIVE) - Summary

Relates to the procurement of banking services.

2015-S195 (ACTIVE) - Sponsor Memo

2015-S195 (ACTIVE) - Bill Text download pdf

                            
                    S T A T E   O F   N E W   Y O R K
________________________________________________________________________

                                   195

                       2015-2016 Regular Sessions

                            I N  S E N A T E

                               (PREFILED)

                             January 7, 2015
                               ___________

Introduced  by Sen. SQUADRON -- read twice and ordered printed, and when
  printed to be committed to the Committee on Finance

AN ACT to amend the state finance law, in relation to the procurement of
  banking services

  THE PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND  ASSEM-
BLY, DO ENACT AS FOLLOWS:

  Section  1.   The state finance law is amended by adding a new section
163-c to read as follows:
  S 163-C. PROCUREMENT OF  BANKING  SERVICES.  IN  MAKING  AN  AWARD  OF
CONTRACTS  FOR  BANKING  SERVICES,  AS PART OF THE SCORING OF OFFERS, IN
ADDITION TO CONSIDERATION OF QUALITY, COST AND EFFICIENCY, A STATE AGEN-
CY SHALL CONSIDER WHETHER THE FINANCIAL INSTITUTION HAS CHOSEN TO COMPLY
WITH THE CAP ON THE RATE OF INTEREST AUTHORIZED IN SECTION 5-501 OF  THE
GENERAL  OBLIGATIONS  LAW  AND ESTABLISHED BY SUBDIVISION ONE OF SECTION
FOURTEEN-A OF THE BANKING LAW IN MAKING LOANS TO THE  RESIDENTS  OF  THE
STATE.  THE  SCORING  SHALL  BE  ACCOMPLISHED IN ACCORD WITH REGULATIONS
ADOPTED BY THE SUPERINTENDENT OF FINANCIAL SERVICES IN CONSULTATION WITH
THE STATE COMPTROLLER.
  S 2. This act shall take effect on the one hundred twentieth day after
it shall have become a law provided, however, that effective immediately
the addition, amendment and/or repeal of any rule or  regulation  neces-
sary  for  the  implementation  of  this  act  on its effective date are
authorized and directed to be made and completed by  the  department  of
financial services on or before such effective date.



 EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                      [ ] is old law to be omitted.
                                                           LBD00984-01-5


              

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