Assembly Bill A4090

2023-2024 Legislative Session

Prohibits the comptroller from using environment, social, and governance criteria when investing the state pension fund

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Current Bill Status - In Assembly Committee

  • Introduced
    • In Committee Assembly
    • In Committee Senate
    • On Floor Calendar Assembly
    • On Floor Calendar Senate
    • Passed Assembly
    • Passed Senate
  • Delivered to Governor
  • Signed By Governor

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2023-A4090 (ACTIVE) - Details

See Senate Version of this Bill:
S6472
Current Committee:
Assembly Governmental Employees
Law Section:
Retirement and Social Security Law
Laws Affected:
Amd §177, R & SS L

2023-A4090 (ACTIVE) - Summary

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.

2023-A4090 (ACTIVE) - Bill Text download pdf 

                             
                     S T A T E   O F   N E W   Y O R K
 ________________________________________________________________________
 
                                   4090
 
                        2023-2024 Regular Sessions
 
                           I N  A S S E M B L Y
 
                             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:
 
   Section 1. Section 177 of the retirement and social  security  law  is
 amended by adding a new subdivision 11 to read as follows:
   11.  THE  TRUSTEE  OR  TRUSTEES  OF SUCH FUND SHALL BE PROHIBITED FROM
 USING ENVIRONMENTAL, SOCIAL, AND  GOVERNANCE  CRITERIA  AS  A  SCREENING
 METHOD FOR SELECTING COMPANIES AND FUNDS TO INVEST IN.
   § 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

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