New York 2025 Session Status: Introduced

A3144 — Requires 10% of the penalties imposed by the superintendent of financial services to be deposited in the community development financial institution fund

Last action — In Assembly Committee

  1. 1
    Introduced
  2. 2
    In Committee
  3. 3
    Passed Assembly
  4. 4
    Passed Senate
  5. 5
    To Executive
  6. 6
    Enacted

This bill has been introduced in the Assembly. Introduced January 23, 2025. It must pass committee before a floor vote.

Next likely step: a committee referral and hearing.

Odds of enactment

Low chance

Based on the sponsor, cosponsors, and committee posture, this bill has a low chance of becoming law.

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A statistical estimate from our own model of past outcomes — an insight, not a guarantee. Policymaking is volatile.

Prognosis

Not enough signal yet

Not enough signal yet to read this bill's trajectory — we surface a likelihood only once there's real movement (stage, sponsorship, committee, or votes) to point to.

Based on stage, sponsorship breadth, committee status, recorded votes, and cross-state momentum — a description of the observable signals, not a prediction.

In plain language

The bill mandates that 10% of financial penalties go to a specific fund.

This legislation requires that 10% of the penalties imposed by the superintendent of financial services be allocated to the community development financial institution fund. Specific details of the penalties and enforcement are not available.

Summary

Requires 10% of the penalties imposed by the superintendent of financial services to be deposited in the community development financial institution fund.

Bill Text

How this bill changes current law

1 change Share ↗

Compared against the New York Consolidated Laws as published AI-generated reading aid — verify against the official bill.

This bill amends 1 section(s) of the New York Consolidated Laws: Section 44 of the banking law.

  • Section 44 of the banking law

    10. Notwithstanding any provision of law to the contrary, ten percent of all penalties imposed and collected pursuant to this section shall be dedicated to and deposited into the community development financial institution fund established pursuant to subdivision three of section sixteen-o of the New York state urban development corporation act. (e) Notwithstanding any provision of law to the contrary, ten percent of all penalties imposed and collected pursuant to this section shall be dedicated to and deposited into the community development financial institution fund established pursuant to subdivision three of section sixteen-o of the New York state urban development corporation act. italics

    amended

Action History

  1. REFERRED TO BANKS

  2. REFERRED TO BANKS

Sponsors

Sponsorship breakdown

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1 sponsors · 0 co-sponsors · 218 not signed on

Sponsors (1)

Co-sponsors (0)

None.

Not signed on (218)

218 members have not signed on to this bill.

Show all 218 →

"Not signed on" means a member has not sponsored or co-sponsored this bill — it does not imply opposition. Members flagged Voted No have a recorded No vote on this bill.

Whip count is in markup. Polling the chamber and every recorded vote this session. Only the first open is slow. It’s instant for you after this. Calling the roll · Tallying · Engrossing

Subjects

finance housing
Cross-referencing the record. Reading this bill against every other bill in the corpus by meaning, not keywords. Only the first open is slow. It’s instant for you after this. Matching · Ranking · Engrossing

Frequently asked questions

What does A3144 do?
Requires 10% of the penalties imposed by the superintendent of financial services to be deposited in the community development financial institution fund.
Who sponsors A3144?
A3144 is sponsored by Linda Rosenthal.
What is the current status of A3144?
This bill has been introduced in the Assembly. Introduced January 23, 2025. It must pass committee before a floor vote.
Where can I track A3144?
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Last checked for changes 3 months ago · updated continuously

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