Bill Text: NY A08587 | 2019-2020 | General Assembly | Introduced

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Bill Title: Establishes a taxi industry predatory lending task force to study and analyze predatory lending practices affecting the taxi industry in the state.

Spectrum: Moderate Partisan Bill (Democrat 16-2)

Status: (Introduced - Dead) 2020-01-08 - referred to banks [A08587 Detail]

Download: New_York-2019-A08587-Introduced.html

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                STATE OF NEW YORK
        ________________________________________________________________________

                                          8587

                               2019-2020 Regular Sessions

                   IN ASSEMBLY

                                   September 13, 2019
                                       ___________

        Introduced  by M. of A. REYES -- read once and referred to the Committee
          on Banks

        AN ACT to establish a taxi industry predatory lending  task  force;  and
          providing for the repeal of such provisions upon expiration thereof

          The  People of the State of New York, represented in Senate and Assem-
        bly, do enact as follows:

     1    Section 1. There is hereby established  the  taxi  industry  predatory
     2  lending  task  force.  The  purpose  of  such task force is to study and
     3  analyze predatory lending practices affecting the taxi industry  in  the
     4  state.
     5    §  2.  The taxi industry predatory lending task force shall consist of
     6  10 members and shall include: the state comptroller or his or her desig-
     7  nee, the superintendent of financial services or his  or  her  designee,
     8  the  chairs  and  ranking  minority  members  of the senate and assembly
     9  committees on transportation or their designees, and 4 members appointed
    10  by the governor from the taxi industry. All appointments of  members  of
    11  the  taxi  industry  predatory lending task force shall be made no later
    12  than thirty days after the effective date of this act.
    13    § 3. The superintendent of financial services shall be  designated  as
    14  the  chairperson  of the taxi industry predatory lending task force. The
    15  members of the taxi industry predatory lending task  force  shall  serve
    16  without  compensation, except that members shall be allowed their neces-
    17  sary and actual expenses incurred in the  performance  of  their  duties
    18  under this act.
    19    §  4.  The  taxi  industry  predatory lending task force shall issue a
    20  report of its findings and recommendations to the governor,  the  tempo-
    21  rary  president  of  the senate and the speaker of the assembly no later
    22  than one year from the effective date of this act.
    23    § 5. This act shall take effect immediately and shall  expire  and  be
    24  deemed repealed two years after such effective date.

         EXPLANATION--Matter in italics (underscored) is new; matter in brackets
                              [ ] is old law to be omitted.
                                                                   LBD13264-01-9