---
type: "Bill"
title: "Relates relation to the discontinuance of the London interbank offered rate"
description: "Enacts provisions relating to the discontinuance of LIBOR (the London interbank offered rate); prohibits parties from refusing to perform contractual obligations or declaring a breach of contract as a result of the discontinuance of LIBOR or the use of a replacement; establishes that the replacement is a commercially reasonable substitute for and a commercially substantial equivalent to LIBOR; provides a safe harbor from litigation for the use of the recommended benchmark replacement."
jurisdiction: "us/states/ny"
legislature: "New York Legislature"
session: "2021-2022"
identifier: "A 164"
citation: "New York A 164 (2021-2022)"
classification: ["bill"]
subjects: []
status: "enacted"
primary_sponsors: ["ZEBROWSKI"]
version_count: 3
action_count: 18
vote_count: 2
first_action: "2021-01-06"
last_action: "2021-04-06"
source: "openstates"
source_identifier: "ocd-bill/9e7b3834-056e-4420-87b0-c747d8aa679e"
source_url: "http://www.nysenate.gov/legislation/bills/2021/A164"
source_hash: "c2e118a6a4c727419c124a8835ee74e59ba67c11f136e1d36be9e4624f1188ef"
vintage: "2026-07-01"
source_snapshot: "https://data.openstates.org/daily/2026-07-01/public.pgdump"
retrieved_at: "2026-07-06"
confidence: "reported"
tags: ["legislation", "bill", "us-ny"]
---

# New York A 164 (2021-2022) — Relates relation to the discontinuance of the London interbank offered rate

Enacts provisions relating to the discontinuance of LIBOR (the London interbank offered rate); prohibits parties from refusing to perform contractual obligations or declaring a breach of contract as a result of the discontinuance of LIBOR or the use of a replacement; establishes that the replacement is a commercially reasonable substitute for and a commercially substantial equivalent to LIBOR; provides a safe harbor from litigation for the use of the recommended benchmark replacement.

## Version chain

The bill's text revisions, in order — the diff chain from filing to enrollment.

1. **A164** (committee substitute) — [source](http://assembly.state.ny.us/leg/?sh=printbill&bn=A164&term=2021&Text=Y)
2. **A164A** (committee substitute) — [source](http://legislation.nysenate.gov/pdf/bills/2021/A164A)
3. **A164B** (committee substitute) — [source](http://legislation.nysenate.gov/pdf/bills/2021/A164B)

## Votes

- Assembly Vote — **149–0** (pass) · lower
- Floor Vote - Version: B — **62–1** (pass) · upper

## Sponsors

- ZEBROWSKI — primary (person)
- GRIFFIN — cosponsor (person)
- MCDONALD — cosponsor (person)
- RAJKUMAR — cosponsor (person)

## Timeline

The legislative action history — every referral, reading, and vote.

- **2021-01-06** REFERRED TO JUDICIARY `referral-committee`
- **2021-03-09** AMEND (T) AND RECOMMIT TO JUDICIARY `amendment-passage, referral-committee`
- **2021-03-09** PRINT NUMBER 164A `amendment-passage`
- **2021-03-11** AMEND AND RECOMMIT TO JUDICIARY `amendment-passage, referral-committee`
- **2021-03-11** PRINT NUMBER 164B `amendment-passage`
- **2021-03-24** REPORTED REFERRED TO RULES `referral-committee`
- **2021-03-24** REPORTED
- **2021-03-24** RULES REPORT CAL.43
- **2021-03-24** ORDERED TO THIRD READING RULES CAL.43
- **2021-03-24** PASSED ASSEMBLY `passage`
- **2021-03-24** DELIVERED TO SENATE
- **2021-03-24** REFERRED TO JUDICIARY `referral-committee`
- **2021-03-24** SUBSTITUTED FOR S297B
- **2021-03-24** 3RD READING CAL.523
- **2021-03-24** PASSED SENATE `passage`
- **2021-03-24** RETURNED TO ASSEMBLY
- **2021-04-01** DELIVERED TO GOVERNOR `executive-receipt`
- **2021-04-06** SIGNED CHAP.94 `executive-signature`

## Source

OpenStates / OpenCivicData bulk snapshot [2026-07-01](https://data.openstates.org/daily/2026-07-01/public.pgdump); origin `ocd-bill/9e7b3834-056e-4420-87b0-c747d8aa679e`. Confidence: reported (aggregated from official New York legislature records).