Relates to the community bank deposit program

Latest action Feb 5, 2026

Relates to the community bank deposit program; increases the maximum amount of funds on deposit at a community banking institution to thirty million dollars.

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 A9573, the matching bill in the Assembly.

Amends the Banking Law.

Committee

Banks · New York State Assembly

Also referred to Banks · New York State Senate, Rules · New York State Assembly, Rules · New York State Senate.

Purpose, from the sponsor's memo

To incentivize participation in the Community Bank Deposit Program.

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

Recorded votes

Vote: Floor vote
NY SenateFeb 4, 2026Result: passed
(61) (1) (0) (1)
Vote: Committee vote · Banks
Senate BanksJan 28, 2026Result: passed
(5) (1) (0) (0)
Vote: Committee vote · Rules
Senate RulesJun 12, 2025Result: passed
(20) (0) (0) (1)
Vote: Floor vote
NY SenateJun 12, 2025Result: passed
(58) (1) (0) (4)

Cosponsors

Noah Burroughs

Democratic1

Noah Burroughs

See the full list on nysenate.gov

The sponsor's argument

Why James Sanders Jr. says this is needed

Increasing the maximum allowable amount of funds on deposit from $20 million to $30 million will expand available lending for home mortgages, small businesses and farms, and community development by participating community banks. In addition, increasing the amount available per finan- cial institution will create an increased incentive for eligible banks to participate in this program, expanding the geographic impact of state deposits used for lending.

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

Feb 5, 2026
Referred to committee
REFERRED TO BANKS
NY Assembly
Feb 4, 2026
Sent to the executive
DELIVERED TO ASSEMBLY
NY Senate
Feb 4, 2026
Passed a chamber
PASSED SENATE
NY Senate
Feb 3, 2026
Advanced to Third Reading
ADVANCED TO THIRD READING
NY Senate
Jan 29, 2026
2ND Report CAL.
2ND REPORT CAL.
NY Senate

Show full history (9 earlier events)

Jan 28, 2026
1ST Report CAL.189
1ST REPORT CAL.189
NY Senate
Jan 21, 2026
Referred to committee
REFERRED TO BANKS
NY Assembly
Jan 7, 2026
Died in Assembly
DIED IN ASSEMBLY
NY Assembly
Jan 7, 2026
Referred to committee
REFERRED TO BANKS
NY Senate
Jun 12, 2025
Sent to the executive
DELIVERED TO ASSEMBLY
NY Senate
Jun 12, 2025
Ordered to Third Reading CAL.1943
ORDERED TO THIRD READING CAL.1943
NY Senate
Jun 12, 2025
Passed a chamber
PASSED SENATE
NY Senate
Jun 12, 2025
Referred to committee
REFERRED TO BANKS
NY Assembly
Jun 9, 2025
Referred to committee
REFERRED TO RULES
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 3, 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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