New York policy
S1992: Establishes the "New York public banking act"
NY Senate · Sponsor James Sanders Jr.
- Jurisdiction
- New York State
- Applies to
- New York State (proposed)
- Effective
- January 7, 2026
What it requires
Establishes the "New York public banking act"; authorizes municipal and other local governments to form and control public banks through the ownership of capital stock or other ownership interests, and to loan or grant public funds or lend public credit to such public banks for the public purposes of achieving cost savings, strengthening local economies, supporting community economic development, and addressing infrastructure and housing needs for localities.
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