Loading chat...

NY A01831

Bill

Status

Introduced

1/23/2023

Primary Sponsor

Ron Kim

Click for details

Origin

Assembly

2023-2024 General Assembly

AI Summary

  • Establishes the "Reputational Insight and Oversight Transparency Act" (RIOT Act) to address reputational risk in New York State public pension fund investments.

  • 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.

  • Restricts senior executives at such firms from making individual contributions exceeding $10,000 to the political entities listed above.

  • 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.

  • 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

Committee Referrals

Governmental Employees1/23/2023

Full Bill Text

No bill text available