Photo by Jeff Reed for the New York City Council courtesy CityLimits.
Manhattan Councilmember Mark Levine has introduced two bills requiring increased financial transparency from the City as part of a package of bills being developed to establish the country’s first municipal public bank. Levine and the City Council are working with state elected officials including Senator James Sanders, who introduced S5565A, the current state bill that would enable local municipalities to charter a public bank. PBI recently co-hosted a NY State Town Hall with Senator Sanders. Levine told CityLimits:
“Today we are taking a big step forward by introducing legislation which will give us the critical information we need to move ahead in this project—clear reporting on just where all of our money is sitting right now,” said Levine during an online press event last week. “The public should have this information. So we understand where our money is and what it is costing us. This is the first step.”