Assembly Bill A7908

2023-2024 Legislative Session

Enacts the "New York Stock Act" prohibiting public officers and employees from using nonpublic information derived from their official positions for personal benefit

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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-A7908 (ACTIVE) - Details

Current Committee:
Assembly Governmental Operations
Law Section:
Public Officers Law
Laws Affected:
Add Art 7-A §§112 - 112-e, Pub Off L
Versions Introduced in Other Legislative Sessions:
2019-2020: A10228
2021-2022: A6123

2023-A7908 (ACTIVE) - Summary

Enacts the "New York Stock Act"; prohibits public officers and employees from using nonpublic information derived from their official positions for personal benefit.

2023-A7908 (ACTIVE) - Bill Text download pdf

                             
                     S T A T E   O F   N E W   Y O R K
 ________________________________________________________________________
 
                                   7908
 
                        2023-2024 Regular Sessions
 
                           I N  A S S E M B L Y
 
                               July 19, 2023
                                ___________
 
 Introduced  by  M.  of A. SIMON, DINOWITZ, THIELE, BURDICK, SEAWRIGHT --
   read once and referred to the Committee on Governmental Operations
 
 AN ACT to amend the public officers  law,  in  relation  to  prohibiting
   public officers and employees from using nonpublic information derived
   from their official positions for personal benefit

   THE  PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND ASSEM-
 BLY, DO ENACT AS FOLLOWS:
 
   Section 1. Short title.  This act shall be known and may be  cited  as
 the "New York Stock Act".
   § 2. The public officers law is amended by adding a new article 7-A to
 read as follows:
                                ARTICLE 7-A
                     USE OF NON-PUBLIC INFORMATION FOR
                        PERSONAL BENEFIT PROHIBITED
 SECTION 112.   DEFINITIONS.
         112-A. PROHIBITION  OF  THE  USE  OF  NONPUBLIC  INFORMATION FOR
                  PRIVATE PROFIT.
         112-B. PROHIBITION OF INSIDER TRADING.
         112-C. OTHER STATE OFFICIALS.
         112-D. PARTICIPATION IN INITIAL PUBLIC OFFERINGS.
         112-E. RULE OF CONSTRUCTION.
   § 112. DEFINITIONS. FOR PURPOSES OF THIS ARTICLE, THE FOLLOWING  TERMS
 SHALL HAVE THE FOLLOWING MEANINGS:
   1.  "MEMBER  OF  THE LEGISLATURE" MEANS A MEMBER OF THE NEW YORK STATE
 SENATE OR NEW YORK STATE ASSEMBLY.
   2. "EMPLOYEE OF THE LEGISLATURE" MEANS ANY OFFICER OR EMPLOYEE OF  THE
 LEGISLATURE BUT IT SHALL NOT INCLUDE MEMBERS OF THE LEGISLATURE.
   3. "EXECUTIVE BRANCH EMPLOYEE" MEANS:
   A. ANY PERSON EMPLOYED IN THE CIVIL SERVICE OF THIS STATE;
   B. THE GOVERNOR;
   C. THE LIEUTENANT GOVERNOR;
 
  EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                       [ ] is old law to be omitted.
                                                            LBD07465-01-3
              

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