NY A09414

Establishes a universal basic stock fund within the Office of the State Comptroller to provide a one-time fixed amount of principal to every New York resident aged 18 or older for investment purposes

Requires recipients to invest the principal in New York-based publicly traded companies or approved financial products, with the State Comptroller and Department of Financial Services establishing a list of eligible investments

Mandates a one-year holding period before residents can sell their stock or reinvest in other approved New York-based companies or financial products

Automatically invests principal in tax-exempt New York state or local bonds if a resident fails to select an investment within six months of notification

Requires the Comptroller to distribute initial principal to all eligible residents within five years of the law's effective date, with annual distributions thereafter for those newly turning 18 or moving into the state