A4144 • 2025

Prohibits state chartered banking institutions from investing in and providing financing for private prisons

Active

The official status still shows this bill as active or still awaiting another formal step.

Sponsor: Karines Reyes
Last action: 2026-05-28
Official status: In Assembly Committee
Effective date: Not listed

Plain English Breakdown

Using official source text because the generated explanation was unavailable or could not be confirmed against the official bill text.

Prohibits state chartered banking institutions from investing in and providing financing for private prisons

Prohibits state chartered banking institutions from investing in and providing financing for private prisons Prohibits state chartered banking institutions from investing in and providing financing for private prisons.

What This Bill Does

Prohibits state chartered banking institutions from investing in and providing financing for private prisons Prohibits state chartered banking institutions from investing in and providing financing for private prisons.

Limits and Unknowns

This entry is temporarily using official source text because the generated explanation could not be confirmed against the official bill text during the last sync.

Bill History

2026-05-28 Assembly
REPORTED REFERRED TO RULES
2026-01-07 Assembly
REFERRED TO CODES
2025-05-28 Assembly
REPORTED REFERRED TO RULES
2025-05-19 Assembly
REPORTED REFERRED TO CODES
2025-01-31 Assembly
REFERRED TO BANKS

Official Summary Text

Prohibits state chartered banking institutions from investing in and providing financing for private prisons
Prohibits state chartered banking institutions from investing in and providing financing for private prisons.

Current Bill Text

Read the full stored bill text

S T A T E   O F   N E W   Y O R K
        ________________________________________________________________________

                                          4144

                               2025-2026 Regular Sessions

                                  I N  A S S E M B L Y

                                    January 31, 2025
                                       ___________

        Introduced  by  M.  of  A. REYES, ANDERSON, RIVERA, DINOWITZ, GALLAGHER,
          CRUZ,  SEAWRIGHT,  ZINERMAN,  FORREST,  SIMON,  ROSENTHAL,   MITAYNES,
          LAVINE, WEPRIN, RAGA, TAPIA -- read once and referred to the Committee
          on Banks

        AN  ACT to amend the banking law, in relation to prohibiting state char-
          tered banking institutions from investing in and  providing  financing
          for private prisons

          THE  PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND ASSEM-
        BLY, DO ENACT AS FOLLOWS:

     1    Section 1. The banking law is amended by adding a new  section  12  to
     2  read as follows:
     3    § 12. INVESTMENTS IN PRIVATE PRISONS BY STATE CHARTERED BANKING INSTI-
     4  TUTIONS. 1. NO STATE CHARTERED BANKING INSTITUTION SHALL PROVIDE FINANC-
     5  ING FOR OR INVEST IN THE STOCKS, SECURITIES, OR OTHER OBLIGATIONS OF ANY
     6  ENTITY THAT OWNS OR OPERATES A PRIVATE CORRECTIONAL FACILITY FOR HOUSING
     7  INCARCERATED  INDIVIDUALS  THAT  WOULD  BE  PROHIBITED UNDER SECTION ONE
     8  HUNDRED TWENTY-ONE OF THE CORRECTION LAW IF SUCH FACILITY  WERE  LOCATED
     9  IN THIS STATE.
    10     2.  FOR PURPOSES OF THIS SECTION "BANKING INSTITUTION" SHALL HAVE THE
    11  SAME MEANING AS DEFINED IN PARAGRAPH (B) OF SUBDIVISION THREE OF SECTION
    12  NINE-F OF THIS CHAPTER.
    13    § 2. This act shall take effect immediately and  shall  apply  to  all
    14  contracts  entered  into,  renewed, modified or amended on or after such
    15  effective date.



         EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                              [ ] is old law to be omitted.
                                                                   LBD00211-01-5