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NY A01831
Bill
Status
1/23/2023
Primary Sponsor
Ron Kim
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AI Summary
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Establishes the "Reputational Insight and Oversight Transparency Act" (RIOT Act) to address reputational risk in New York State public pension fund investments.
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Prohibits firms receiving investments from New York State Common Retirement Fund and municipal pension funds from making direct corporate contributions to super PACs, section 527 tax-exempt political organizations, or section 501(c)(4) tax-exempt organizations.
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Restricts senior executives at such firms from making individual contributions exceeding $10,000 to the political entities listed above.
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Requires senior executives at such firms who make individual contributions of $10,000 or less to these political entities to disclose those contributions to the Department of Audit and Control, New York State Comptroller's office, or New York City Comptroller's office.
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Takes effect immediately upon enactment.
Legislative Description
Establishes the reputational insight and oversight transparency act; restricts investments by certain firms that receive investments from any public retirement system or pension funds.
Last Action
referred to governmental employees
1/3/2024