New York S00114 prohibits state chartered banking institutions from investing in or financing private prisons.

New York S00114 amends the banking law to prohibit state chartered banking institutions from investing in or providing financing for private prisons. This includes investments in stocks, securities, or other obligations of entities that own or operate private correctional facilities for housing incarcerated individuals. The prohibition applies to facilities that would be prohibited under state correction law if located in New York. The act takes effect immediately and applies to all contracts entered into after its enactment.

New York S00114 prohibits state chartered banking institutions from investing in or financing private prisons.

New York S00114 amends the banking law to prohibit state chartered banking institutions from investing in or providing financing for private prisons. This includes investments in stocks, securities, or other obligations of entities that own or operate private correctional facilities for housing incarcerated individuals. The prohibition applies to facilities that would be prohibited under state correction law if located in New York. The act takes effect immediately and applies to all contracts entered into after its enactment.