New York legislation · 2025-2026 General Assembly
New York A9574: Relates to a deposit placement program for the Banking Development District Program
Status: In committee, June 2, 2026
Allows a bank, in the discretion of the comptroller and the commissioner of taxation and finance, to arrange for the redeposit of moneys, in whole or in part, through a deposit placement program.
What the bill says
An act to amend the state finance law, in relation to a deposit placement program for the Banking Development District Program.
From the introduced text, January 21, 2026:
AN ACT to amend the state finance law, in relation to a deposit placement program for the Banking Development District Program THE PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND ASSEMBLY, DO ENACT AS FOLLOWS: Section 1. The opening paragraph of subdivision 2 of section 105 of the state finance law, as amended by chapter 154 of the laws of 1953, is amended to read as follows: [Every] EXCEPT AS OTHERWISE PROVIDED IN THIS SECTION, EVERY bank, trust company and industrial bank designated for the deposit of state moneys under the provisions of this section shall, before deposits are made: § 2. Subdivision 3 of section 105 of the state finance law, as amended by chapter 154 of the laws of 1953, is amended and a new subdivision 7 is added to read as follows: 3. Notwithstanding any other general or special law, AND EXCEPT AS OTHERWISE PROVIDED IN THIS SECTION, no bonds, notes or other obligations[, except as above described,] shall be accepted as security for moneys deposited pursuant to this section or section one hundred six of this [chapter] ARTICLE. No general or special law which in substance or in effect authorizes or requires the deposit of specified bonds, notes or other obligations with any public officer or body of this state for any purpose …
Sponsors
- Khaleel Anderson (D, 31) · primary sponsor
- Monique Chandler-Waterman (D, 58)
- Chantel Jackson (D, 79)
- Yudelka Tapia (D, 86)
- Jeffrey Dinowitz (D, 81)
- Catalina Cruz (D, 39)
- Amanda Septimo (D, 84)
- Stefani Zinerman (D, 56)
- Rebecca Seawright (D, 76)
- Santos, Manny De Los (I, 72)
- Karines Reyes (D, 87)
- Alfred Taylor (D, 71)
Latest actions
- : SUBSTITUTED BY S8357
- : ORDERED TO THIRD READING RULES CAL.354
- : RULES REPORT CAL.354
- : REPORTED
- : REPORTED REFERRED TO RULES
- : REFERENCE CHANGED TO WAYS AND MEANS
- : REFERRED TO BANKS
Votes
- Assembly Rules Committee: Favorable (June 2, 2026): 27 yea, 0 nay, passed
- Assembly Ways And Means Committee: Favorable refer to committee Rules (June 1, 2026): 32 yea, 0 nay, passed
Subjects: State Finance Law
Common questions
- What is A9574?
- A9574 is a bill in the New York Legislature (2025-2026 General Assembly): Relates to a deposit placement program for the Banking Development District Program.
- What does A9574 do?
- In its own words: An act to amend the state finance law, in relation to a deposit placement program for the Banking Development District Program.
- What is the status of A9574?
- In committee as of June 2, 2026. Latest action: SUBSTITUTED BY S8357 (June 2, 2026).
- Who sponsored A9574?
- Khaleel Anderson (D, 31), with 11 co-sponsors.
- Where is the official record for A9574?
- On the New York Legislature website: https://www.nysenate.gov/legislation/bills/2025/A9574
Source: official New York record. Tracked by Delilah, AI for legislation across all 50 states and Congress.