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NY A10319
Bill
Status
6/20/2012
Primary Sponsor
Crystal Peoples-Stokes
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AI Summary
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Extends reporting deadline from 60 to 150 days after fiscal year-end for MWBE participation reports across four state entities: the Common Retirement Fund, Teachers' Retirement System, State Insurance Fund, and Deferred Compensation Plans
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Requires reports to the governor, legislature, and state chief diversity officer on participation of minority and women-owned business enterprise (MWBE) asset managers, financial institutions, and professional service providers in investment and brokerage transactions
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Mandates comparative analysis of MWBE activity relative to all asset managers and financial institutions for the relevant period
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Requires each report be published on the respective entity's website for at least 60 days following release to state officials
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Takes effect immediately upon enactment
Legislative Description
Enacts "Amendment No. 1 to the New York state MWBE asset management and financial institution strategy", which relates to requirements for reporting about the use of minority and women-owned business enterprises, providing that such reports be submitted within 150 days of the relevant fiscal year.
Last Action
REFERRED TO RULES
6/20/2012