NY A04822

Amends State Finance Law Section 95 to redirect excess funds from the abandoned property fund into a separate account for capital market investments in emerging domestic markets, as determined by the comptroller.

Requires the comptroller to establish a separate account within the abandoned property fund exclusively for such investments, with investment returns eligible for reinvestment or appropriation to the state general fund.

Maintains the existing threshold of $6 million as the minimum required balance in the abandoned property fund to satisfy monthly claims, with a $750,000 maximum cap at fiscal year end.

Allows the comptroller and director of the budget to mutually agree quarterly (March, June, September, December) to transfer amounts to the separate investment account, even if it reduces the fund below $6 million.

Takes effect 60 days after enactment.