Creates a banking development district working group

Latest action May 12, 2026

Creates a banking development district working group to assess the banking development district program and provide an annual report to the governor and legislature on the strengths and weaknesses of such program; defines unbanked and underbanked.

Not chosen yet

Where it stands

Passed one of the two chambers; it still needs the other.

Introduced
In committee
Up for a vote
Passed one chamber
Passed
Enacted

New York State Senate

Same as A5167, the matching bill in the Assembly.

Amends the Banking Law.

Committee

Banks · New York State Assembly

Also referred to Banks · New York State Senate, Ways and Means · New York State Assembly.

Purpose, from the sponsor's memo

This bill creates a banking development district working group to assess and provide recommendations and future goals for the banking development district program

Filed with the bill. Read it on nysenate.gov (opens in a new tab)

Recorded votes

Vote: Committee vote · Banks
Senate BanksFeb 24, 2026Result: passed
(7) (0) (0) (0)
Vote: Floor vote
NY SenateFeb 24, 2025Result: passed
(60) (0) (0) (3)
Vote: Committee vote · Banks
Senate BanksFeb 4, 2025Result: passed
(7) (0) (0) (0)

Cosponsors

Latrice Walker and Rebecca Kassay

Democratic2

See the full list on nysenate.gov

The sponsor's argument

Why James Sanders Jr. says this is needed

The Banking Development District Program was created in 1997. This program enables municipalities to offer certain incentives in order to encourage the establishment of bank branches in underserved areas. By establishing a branch in such a district, the bank would be eligible -at local and state option -- to receive municipal and state deposits at reduced rates, and to receive a partial exemption on municipal property taxes. This bill is necessary to ensure that Banking Development Districts are effectively serving the communities they aim to impact. The creation of a banking development district working group" would help to improve the current banking development districts as well as create new ones.

This is the sponsor's own case for the bill, quoted from their memorandum. It is not Agora's description of what the bill does.

Full history

May 12, 2026
Reported out of committee
REPORTED REFERRED TO RULES
NY Assembly
Feb 26, 2026
Reported out of committee
REPORTED AND COMMITTED TO FINANCE
NY Senate
Jan 7, 2026
Died in Assembly
DIED IN ASSEMBLY
NY Assembly
Jan 7, 2026
Referred to committee
REFERRED TO BANKS
NY Senate
Jan 7, 2026
Referred to committee
REFERRED TO WAYS AND MEANS
NY Assembly

Show full history (10 earlier events)

May 27, 2025
Reported out of committee
REPORTED REFERRED TO RULES
NY Assembly
Apr 30, 2025
Reported out of committee
REPORTED REFERRED TO WAYS AND MEANS
NY Assembly
Feb 24, 2025
Sent to the executive
DELIVERED TO ASSEMBLY
NY Senate
Feb 24, 2025
Passed a chamber
PASSED SENATE
NY Senate
Feb 24, 2025
Referred to committee
REFERRED TO BANKS
NY Assembly
Feb 12, 2025
Referred to committee
REFERRED TO BANKS
NY Assembly
Feb 10, 2025
Advanced to Third Reading
ADVANCED TO THIRD READING
NY Senate
Feb 5, 2025
2ND Report CAL.
2ND REPORT CAL.
NY Senate
Feb 4, 2025
1ST Report CAL.284
1ST REPORT CAL.284
NY Senate
Jan 15, 2025
Referred to committee
REFERRED TO BANKS
NY Senate

About this record

Summary: The summary comes from NY Open Legislation, the New York State Senate's public record. For more, see How we handle summaries.
Cosponsors: The list shows the cosponsors who are on Agora, A to Z. The official record may list more.
Party colors: Parties are shown in the same neutral colors.
Source: From NY Open Legislation, the NY Senate and Assembly, and official rosters. This record was last updated Nov 1, 2026. About our data

Read the record

Read on NY Senate (opens in a new tab) The official record on nysenate.gov.

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