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NY A01516
Bill
Status
Introduced
1/10/2025
Primary Sponsor
David Weprin
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AI Summary
- Prohibits the state comptroller from directly investing common retirement fund monies in any corporation engaged in boycotting Israel, including Iran-restricted and Sudan-restricted companies
- Requires the comptroller to create an exclusion list within six months of companies subject to divestment, with quarterly updates thereafter
- Mandates divestment of existing holdings and cessation of new direct investments in excluded companies within one year, consistent with fiduciary obligations
- Limits indirect investments to vehicles with less than 0.5% of assets invested in restricted companies on an annual average basis
- Disqualifies any firm, partnership, or corporation that boycotts Israel or is Iran/Sudan-restricted from bidding on or entering into state contracts, with the Commissioner of Taxation and Finance responsible for verification
Legislative Description
Provides for limitations on investments of public pension funds and state contracts; prohibits the investment of the available monies of the common retirement fund in any stocks, securities, equities, assets or other obligations of any corporation or company, or any subsidiary, affiliate or parent of any corporation or company, engaged in the boycott of Israel, including Iran-restricted companies and Sudan-restricted companies; prohibits any firm, partnership or corporation that boycotts Israel, that is an Iran-restricted company or that is a Sudan-restricted company from contracting with the state.
Last Action
referred to governmental employees
1/7/2026
Committee Referrals
Governmental Employees1/10/2025
Full Bill Text
No bill text available