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A 4144

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

2025 Regular Session Introduced by Khaleel Anderson and 16 co-sponsors

Bill A 4144 prohibits state-chartered banks from investing in or financing private prisons, aiming to reduce their influence and promote justice reform.

REPORTED REFERRED TO RULES
0
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Bill Summary · A 4144

Summary of Bill A 4144

Bill Overview

  • Bill Number: A 4144
  • Title: Prohibits state chartered banking institutions from investing in and providing financing for private prisons
  • Status: Reported, referred to Rules
  • Introduced: January 31, 2025
  • Classification: Bill

Purpose and Intent

The primary purpose of Bill A 4144 is to prevent state-chartered banking institutions from engaging in financial activities that support private prisons. This legislation aims to address concerns regarding the privatization of incarceration and its implications for justice, equity, and public safety.

Key Provisions

  • Investment Prohibition: The bill explicitly prohibits state-chartered banks from investing in private prison companies.
  • Financing Restrictions: It also bars these banks from providing any form of financing to private prisons, which includes loans, credit, and other financial services.

Affected Parties

  • State Chartered Banks: The legislation directly impacts all banking institutions chartered by the state, requiring them to reassess their investment and financing strategies.
  • Private Prisons: Companies operating private prisons will be significantly affected, as they will lose access to state banking resources for funding and investment.
  • Public Policy Advocates: Organizations and individuals advocating for criminal justice reform may support this bill as it aligns with efforts to reduce reliance on private incarceration facilities.

Legislative Timeline

  • Introduced: January 31, 2025, and referred to the Banks Committee for initial review.
  • Reported to Codes: May 19, 2025, indicating that the bill has passed through the initial committee stage.
  • Reported to Rules: May 28, 2025, moving the bill closer to potential floor debate and voting.

Related Legislation

  • A 7580, A 7112, A 6601: These bills from prior sessions may address similar issues related to private prisons or banking regulations.
  • S 114: This is the companion bill in the Senate, which may provide a parallel legislative effort to address the same concerns.

Conclusion

Bill A 4144 represents a significant step towards reforming the financial relationships between state-chartered banks and private prison entities. By prohibiting investments and financing, the bill seeks to limit the influence of private prisons in the state’s criminal justice system and promote a more equitable approach to incarceration. As the bill progresses through the legislative process, its implications for both the banking sector and the private prison industry will be closely monitored.

Compiled from official sources — confirm details with the bill’s official record.

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