New York legislation · 2025-2026 General Assembly
New York A11513: Enacts the "bank of New York city act"
Status: In committee, May 28, 2026
Enacts the "bank of New York city act" which allows for and establishes the mechanism to establish a municipal public bank in a city with a population of a million or more.
What the bill says
An act to amend the banking law, the state finance law and the general municipal law, in relation to enacting the "bank of New York city act".
From the introduced text, May 28, 2026:
AN ACT to amend the banking law, the state finance law and the general municipal law, in relation to enacting the "bank of New York city act" THE PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND ASSEMBLY, DO ENACT AS FOLLOWS: Section 1. Short title. This act shall be known and may be cited as the "bank of New York city act". § 2. Legislative intent. 1. It is the intent of the legislature that this act (i) authorizes cities having a population of one million or more to form and control a municipal public bank established pursuant to article three-C of the banking law, and to loan or grant public funds or lend public credit to such public bank for the public purposes of achieving cost savings, strengthening local economies, supporting community economic development, and addressing infrastructure and housing needs; and (ii) codifies the common law interpretation of the constitution of the state of New York that cities, counties, and other municipalities may own stock or other ownership interests in, and lend or grant money to, public and private corporations, limited liability companies or not-for-profit corporations, so long as such actions are pursuant to public purposes. 2. It is also the intent of the legislature that a municipal public bank established pursuant to article three-C of …
Sponsors
- Amanda Septimo (D, 84) · primary sponsor
Latest actions
- : REFERRED TO BANKS
Subjects: Banking Law
Common questions
- What is A11513?
- A11513 is a bill in the New York Legislature (2025-2026 General Assembly): Enacts the "bank of New York city act".
- What does A11513 do?
- In its own words: An act to amend the banking law, the state finance law and the general municipal law, in relation to enacting the "bank of New York city act".
- What is the status of A11513?
- In committee as of May 28, 2026. Latest action: REFERRED TO BANKS (May 28, 2026).
- Who sponsored A11513?
- Amanda Septimo (D, 84).
- Where is the official record for A11513?
- On the New York Legislature website: https://www.nysenate.gov/legislation/bills/2025/A11513
Source: official New York record. Tracked by Delilah, AI for legislation across all 50 states and Congress.