Bill Text: NY A04090 | 2023-2024 | General Assembly | Introduced

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Bill Title: Prohibits the comptroller from using environment, social, and governance criteria as a screening method for selecting companies and funds to invest the state pension fund in.

Spectrum: Partisan Bill (Republican 20-1)

Status: (Introduced) 2024-01-03 - referred to governmental employees [A04090 Detail]

Download: New_York-2023-A04090-Introduced.html

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                STATE OF NEW YORK
        ________________________________________________________________________

                                          4090

                               2023-2024 Regular Sessions

                   IN ASSEMBLY

                                    February 9, 2023
                                       ___________

        Introduced  by  M.  of  A.  PIROZZOLO  --  read once and referred to the
          Committee on Governmental Employees

        AN ACT to amend the retirement and social security law, in  relation  to
          prohibiting the comptroller from using environment, social, and gover-
          nance criteria when investing the state pension fund

          The  People of the State of New York, represented in Senate and Assem-
        bly, do enact as follows:

     1    Section 1. Section 177 of the retirement and social  security  law  is
     2  amended by adding a new subdivision 11 to read as follows:
     3    11.  The  trustee  or  trustees  of such fund shall be prohibited from
     4  using environmental, social, and  governance  criteria  as  a  screening
     5  method for selecting companies and funds to invest in.
     6    § 2. This act shall take effect immediately.







         EXPLANATION--Matter in italics (underscored) is new; matter in brackets
                              [ ] is old law to be omitted.
                                                                   LBD07962-02-3