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New York · 2025 Regular Session · Bill

S 3614: Exempts minority depository institutions from the corporate franchise tax for a period of ten years

In committee Official data

  1. Introduced
  2. In committee
  3. Passed one chamber
  4. Passed both chambers
  5. Enacted

Last official action: ·Record last updated:

Plain-language summary

S 3614 is a bill introduced in the New York Senate on January 29, 2025. According to its official title, it concerns: Exempts minority depository institutions from the corporate franchise tax for a period of ten years. Primary sponsor: George Borrello (Republican/Conservative). Most recent recorded action (January 7, 2026): REFERRED TO BUDGET AND REVENUE.

Generated automatically from the official title, sponsor list, and status record only. It does not characterize the bill’s purpose or effects. How summaries are written

Official summary

Abstract published by the legislature (via Open States). Text as published by the legislature; reproduced verbatim.

Exempts minority depository institutions from the corporate franchise tax for a period of ten years from the date of commencement of business.

Sponsors

Sponsors by party (alphabetical): Republican/Conservative 1

NameRolePartyChamberDistrict
George BorrelloPrimary sponsorRepublican/ConservativeSenate57

“Support” is shown only as formal sponsorship recorded by the legislature. Roll-call votes are available on the official bill page.

Recent official actions

  1. REFERRED TO BUDGET AND REVENUE
  2. REFERRED TO BUDGET AND REVENUE

Sources

  1. Open States / Plural (data from the official legislature website)
  2. Official legislature source