Establishes the Empire State Public Bank to use New York's depository assets for public benefit.

The Empire State Public Bank will use New York's depository assets to generate additional benefit for the people and the economy of the state. The bank will facilitate investment in public infrastructure, assist students with low-cost loans, provide low-interest capital to businesses and low-income areas, and leverage the state's financial capital. The bank will serve as a clearinghouse, provide corporate trust services, and buy and sell federal funds. The bank will be governed by a commission and an advisory board, and it will be exempt from state fees and taxes.

Establishes the Empire State Public Bank to use New York's depository assets for public benefit.

The Empire State Public Bank will use New York's depository assets to generate additional benefit for the people and the economy of the state. The bank will facilitate investment in public infrastructure, assist students with low-cost loans, provide low-interest capital to businesses and low-income areas, and leverage the state's financial capital. The bank will serve as a clearinghouse, provide corporate trust services, and buy and sell federal funds. The bank will be governed by a commission and an advisory board, and it will be exempt from state fees and taxes.