S T A T E   O F   N E W   Y O R K
 ________________________________________________________________________
 
                                   8016
 
                        2025-2026 Regular Sessions
 
                           I N  A S S E M B L Y
 
                              April 22, 2025
                                ___________
 
 Introduced  by  M.  of A. LASHER, R. CARROLL, SCHIAVONI -- read once and
   referred to the Committee on Banks
 
 AN ACT to amend the general business law, the  financial  services  law,
   the  state  finance law and the executive law, in relation to enacting
   the "government response to insider fraud and trading act" relating to
   securities fraud whistleblower incentives and protections
 
   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 "government response to insider fraud and trading act" or the "GRIFT
 act".
   § 2. The general business law is amended by adding a new section 353-b
 to read as follows:
   § 353-B. SECURITIES FRAUD WHISTLEBLOWER  INCENTIVES  AND  PROTECTIONS.
 1. DEFINITIONS. (A) "COVERED ENFORCEMENT ACTION" SHALL MEAN: (I) ANY ONE
 OR  MORE  ENFORCEMENT  ACTIONS  BROUGHT  BY  THE  ATTORNEY GENERAL UNDER
 SECTION THREE HUNDRED FIFTY-THREE OF THIS ARTICLE THAT RESULTS IN  MONE-
 TARY  SANCTIONS  EXCEEDING ONE MILLION DOLLARS IN THE AGGREGATE; OR (II)
 ANY INVESTIGATIONS, INQUIRIES, SETTLEMENTS OR ANY OTHER  ACTION  BROUGHT
 OR MADE BY THE ATTORNEY GENERAL IN RELATION TO A VIOLATION OF THIS ARTI-
 CLE  THAT RESULTS IN MONETARY SANCTIONS EXCEEDING ONE MILLION DOLLARS IN
 THE AGGREGATE.
   (B) "MONETARY SANCTIONS" SHALL MEAN:
   (I) ANY MONIES ORDERED TO BE PAID,  OR  THAT  ARE  OTHERWISE  PAID  OR
 FORFEITED AS A RESULT OF A COVERED ENFORCEMENT ACTION OR RELATED ACTION;
 AND (II) ANY MONIES DEPOSITED INTO A DISGORGEMENT FUND OR PUBLIC BENEFIT
 FUND AS A RESULT OF A COVERED ENFORCEMENT ACTION OR RELATED ACTION.
   (C) "ORIGINAL INFORMATION" SHALL MEAN INFORMATION THAT:
   (I)  IS DERIVED FROM THE INDEPENDENT KNOWLEDGE OR ANALYSIS OF A WHIST-
 LEBLOWER;

  EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                       [ ] is old law to be omitted.
                                                            LBD08990-02-5
 A. 8016                             2
              

 
   (II) IS NOT KNOWN TO THE  ATTORNEY  GENERAL  FROM  ANY  OTHER  SOURCE,
 UNLESS THE WHISTLEBLOWER IS THE ORIGINAL SOURCE OF THE INFORMATION; AND
   (III) IS NOT EXCLUSIVELY DERIVED FROM AN ALLEGATION MADE IN A JUDICIAL
 OR  ADMINISTRATIVE  HEARING, IN A GOVERNMENTAL REPORT, HEARING, AUDIT OR
 INVESTIGATION OR FROM THE NEWS MEDIA,  UNLESS  THE  WHISTLEBLOWER  IS  A
 SOURCE  OF  THE  INFORMATION.  FOR PURPOSES OF THIS SUBPARAGRAPH: (A) AN
 ALLEGATION IS NOT MADE IN A GOVERNMENTAL REPORT OR INVESTIGATION BECAUSE
 IT WAS DISCLOSED OR PROVIDED PURSUANT TO ARTICLE SIX OF THE PUBLIC OFFI-
 CERS LAW, OR UNDER ANY OTHER  FEDERAL,  STATE  OR  LOCAL  LAW,  RULE  OR
 PROGRAM  ENABLING  THE  PUBLIC  TO REQUEST, RECEIVE OR VIEW DOCUMENTS OR
 INFORMATION IN THE POSSESSION OF PUBLIC OFFICIALS  OR  PUBLIC  AGENCIES;
 AND  (B)  AN  ALLEGATION  IS  NOT  MADE IN THE NEWS MEDIA MERELY BECAUSE
 INFORMATION OF ALLEGATIONS OR  TRANSACTIONS  HAVE  BEEN  POSTED  ON  THE
 INTERNET OR ON A COMPUTER NETWORK.
   (D)  "RELATED ACTION" SHALL MEAN ANY JUDICIAL OR ADMINISTRATIVE ACTION
 BROUGHT BY A STATE OR LOCAL AGENCY OR ENTITY  BASED  UPON  THE  ORIGINAL
 INFORMATION PROVIDED BY A WHISTLEBLOWER TO THE ATTORNEY GENERAL PURSUANT
 TO THIS SECTION THAT RESULTS IN MONETARY SANCTIONS EXCEEDING ONE MILLION
 DOLLARS IN THE AGGREGATE.
   (E)  "WHISTLEBLOWER"  SHALL MEAN ANY INDIVIDUAL OR ENTITY WHO PROVIDES
 OR TWO OR MORE INDIVIDUALS OR ENTITIES ACTING JOINTLY WHO PROVIDE INFOR-
 MATION TO THE ATTORNEY GENERAL RELATING TO A VIOLATION OF THIS ARTICLE.
   2. WHISTLEBLOWER AWARDS. (A) ONE OR MORE WHISTLEBLOWERS WHO  VOLUNTAR-
 ILY  PROVIDE  ORIGINAL  INFORMATION TO THE ATTORNEY GENERAL THAT WAS THE
 BASIS FOR A SUCCESSFUL COVERED ENFORCEMENT ACTION, OR A RELATED  ACTION,
 SHALL, IN ACCORDANCE WITH THE PROVISIONS OF THIS SECTION, BE ENTITLED TO
 RECEIVE  BETWEEN  TEN  AND THIRTY PERCENT OF THE MONETARY SANCTIONS THAT
 RESULT FROM SUCH ACTION. ANY PAYMENT TO A PERSON PURSUANT TO THIS  PARA-
 GRAPH  SHALL BE MADE FROM THE MONETARY SANCTIONS OF THE COVERED ENFORCE-
 MENT ACTION OR RELATED ACTION.
   (B) A WHISTLEBLOWER WHO PROVIDES THE ATTORNEY GENERAL WITH INFORMATION
 RELATED TO INFORMATION PREVIOUSLY REPORTED TO THE ATTORNEY GENERAL BY  A
 WHISTLEBLOWER  WHO IS ELIGIBLE FOR AN AWARD UNDER THIS SECTION SHALL NOT
 BE ENTITLED TO AN AWARD, UNLESS THE INFORMATION PROVIDED BY  THE  SECOND
 WHISTLEBLOWER  MATERIALLY ADDS TO THE INFORMATION REPORTED TO THE ATTOR-
 NEY GENERAL BY THE FIRST WHISTLEBLOWER.
   (C) THE DETERMINATION OF THE AMOUNT OF AN AWARD MADE WITHIN THE  RANGE
 ESTABLISHED  BY  THIS  SECTION  SHALL BE SOLELY IN THE DISCRETION OF THE
 ATTORNEY GENERAL. IN DETERMINING THE AMOUNT OF AN AWARD MADE WITHIN  THE
 RANGE  ESTABLISHED BY THIS SECTION, THE ATTORNEY GENERAL SHALL TAKE INTO
 CONSIDERATION THE FOLLOWING FACTORS:
   (I) THE SIGNIFICANCE OF THE INFORMATION PROVIDED BY THE  WHISTLEBLOWER
 TO THE SUCCESS OF THE COVERED ENFORCEMENT ACTION OR RELATED ACTION;
   (II)  THE  DEGREE  OF ASSISTANCE PROVIDED BY THE WHISTLEBLOWER AND ANY
 LEGAL REPRESENTATIVE OF THE WHISTLEBLOWER  IN  THE  COVERED  ENFORCEMENT
 ACTION OR RELATED ACTION;
   (III)  THE INTEREST OF THE STATE IN DETERRING VIOLATIONS OF THIS ARTI-
 CLE AND PROMOTING THE REPORTING BY WHISTLEBLOWERS OF INFORMATION  RELAT-
 ING TO SUCH VIOLATIONS; AND
   (IV)  SUCH  ADDITIONAL  RELEVANT  FACTORS  AS THE ATTORNEY GENERAL MAY
 ESTABLISH BY RULE OR REGULATION.
   (D) NO AWARD SHALL BE MADE TO ANY WHISTLEBLOWER IF THE ATTORNEY GENER-
 AL SHALL DETERMINE THAT THE WHISTLEBLOWER:
   (I) IS, OR WAS AT THE TIME THE  WHISTLEBLOWER  ACQUIRED  THE  ORIGINAL
 INFORMATION  SUBMITTED  TO  THE  ATTORNEY  GENERAL, A MEMBER, OFFICER OR
 A. 8016                             3
 
 EMPLOYEE OF A FEDERAL, STATE OR LOCAL LAW ENFORCEMENT AGENCY THAT  REGU-
 LATES SECURITIES OR THAT PROSECUTES SECURITIES VIOLATIONS;
   (II)  WAS  CONVICTED  OF  A  CRIMINAL VIOLATION RELATED TO THE COVERED
 ENFORCEMENT ACTION FOR WHICH THE WHISTLEBLOWER OTHERWISE  COULD  RECEIVE
 AN AWARD UNDER THIS SECTION;
   (III)  MATERIALLY FAILED TO SUBMIT INFORMATION TO THE ATTORNEY GENERAL
 IN SUCH FORM AS THE ATTORNEY GENERAL MAY REQUIRE;
   (IV) IS, OR WAS AT THE TIME THE WHISTLEBLOWER  ACQUIRED  THE  ORIGINAL
 INFORMATION SUBMITTED TO THE ATTORNEY GENERAL, AN OFFICER OR EMPLOYEE OF
 A  SELF-REGULATORY  ORGANIZATION THAT REGULATES SECURITIES AND WHO HAS A
 DUTY BY VIRTUE OF SUCH POSITION TO INVESTIGATE OR  REPORT  A  SECURITIES
 VIOLATION; PROVIDED THAT THIS SUBPARAGRAPH SHALL NOT APPLY IF THE WHIST-
 LEBLOWER  REPORTED  THE  ORIGINAL  INFORMATION  TO  SUCH SELF-REGULATORY
 ORGANIZATION AND THE ATTORNEY GENERAL DETERMINES THAT  THE  ORGANIZATION
 DID NOT TAKE ADEQUATE MEASURES WITHIN SIXTY DAYS TO INVESTIGATE OR SANC-
 TION CONDUCT THAT WOULD BE A VIOLATION OF THIS ARTICLE; OR
   (V)  (A) KNOWINGLY AND WILLFULLY MAKES FALSE, FICTITIOUS OR FRAUDULENT
 STATEMENTS OR REPRESENTATIONS TO THE ATTORNEY  GENERAL  WHEN  SUBMITTING
 INFORMATION  UNDER  THIS SECTION, OR (B) USES ANY FALSE WRITING OR DOCU-
 MENT KNOWING THE WRITING OR DOCUMENT CONTAINS ANY FALSE,  FICTITIOUS  OR
 FRAUDULENT  STATEMENT  OR  ENTRY  WHEN SUBMITTING INFORMATION UNDER THIS
 SECTION.
   (E) (I) ANY  DETERMINATION  MADE  UNDER  THIS  SUBDIVISION,  INCLUDING
 WHETHER,  TO  WHOM,  OR  IN  WHAT AMOUNT TO MAKE AWARDS, SHALL BE IN THE
 DISCRETION OF THE ATTORNEY GENERAL;  PROVIDED  THAT  SUCH  AMOUNT  SHALL
 CONFORM  TO  THE RANGE ESTABLISHED BY PARAGRAPH (A) OF THIS SUBDIVISION,
 AND SHALL TAKE INTO ACCOUNT THE FACTORS LISTED IN PARAGRAPH (C) OF  THIS
 SUBDIVISION.
   (II) ANY SUCH DETERMINATION MAY BE CHALLENGED IN ACCORDANCE WITH ARTI-
 CLE SEVENTY-EIGHT OF THE CIVIL PRACTICE LAW AND RULES, PROVIDED THAT ANY
 SUCH  CHALLENGE  SHALL  BE BROUGHT WITHIN FORTY-FIVE DAYS OF THE DATE OF
 ANY SUCH DETERMINATION.
   (F) NO CONTRACT WITH THE DEPARTMENT OF LAW OR ANY OTHER  AGENCY  SHALL
 BE  NECESSARY  FOR  ANY  WHISTLEBLOWER  TO  RECEIVE  AN AWARD UNDER THIS
 SECTION.
   (G)(I) ANY WHISTLEBLOWER WHO MAKES A CLAIM FOR  AN  AWARD  UNDER  THIS
 SECTION MAY BE REPRESENTED BY COUNSEL.
   (II)  ANY  WHISTLEBLOWER  WHO  ANONYMOUSLY  MAKES A CLAIM FOR AN AWARD
 UNDER THIS SECTION SHALL BE REPRESENTED BY COUNSEL IF THE  WHISTLEBLOWER
 ANONYMOUSLY SUBMITS THE INFORMATION UPON WHICH THE CLAIM IS BASED. PRIOR
 TO  THE PAYMENT OF AN AWARD, A WHISTLEBLOWER SHALL DISCLOSE THE IDENTITY
 OF THE WHISTLEBLOWER AND PROVIDE SUCH OTHER INFORMATION AS THE  ATTORNEY
 GENERAL MAY REQUIRE, DIRECTLY OR THROUGH COUNSEL FOR THE WHISTLEBLOWER.
   (H)(I)  THE  ATTORNEY GENERAL SHALL NOT DISCLOSE ANY INFORMATION WHICH
 COULD REASONABLY BE EXPECTED TO REVEAL THE IDENTITY OF A  WHISTLEBLOWER,
 UNLESS AND UNTIL SUCH INFORMATION IS REQUIRED TO BE DISCLOSED TO A PARTY
 IN  CONNECTION  WITH  AN  ACTION  OR  PROCEEDING BROUGHT BY THE ATTORNEY
 GENERAL, A LAWFULLY ISSUED SUBPOENA BY A FEDERAL OR STATE  LAW  ENFORCE-
 MENT AUTHORITY, OR OTHERWISE BY A COURT ORDER. SUCH INFORMATION SHALL BE
 DEEMED  INFORMATION  EXEMPTED  FROM  DISCLOSURE UNDER ARTICLE SIX OF THE
 PUBLIC OFFICERS LAW.
   (II) NOTWITHSTANDING THE PRECEDING SUBPARAGRAPH, WITHOUT THE  LOSS  OF
 ITS  STATUS  AS  CONFIDENTIAL  IN THE HANDS OF THE ATTORNEY GENERAL, ALL
 INFORMATION REFERRED TO IN THIS SUBDIVISION MAY, WHEN DETERMINED BY  THE
 ATTORNEY  GENERAL  TO  BE  NECESSARY  TO ACCOMPLISH THE PURPOSES OF THIS
 ARTICLE, BE  MADE  AVAILABLE  TO  THE  APPROPRIATE  REGULATORY  AND  LAW
 A. 8016                             4
 
 ENFORCEMENT  AUTHORITIES  OF  THIS  STATE,  ANOTHER  STATE,  THE FEDERAL
 GOVERNMENT, FOREIGN GOVERNMENTS, OR SELF-REGULATORY ORGANIZATIONS.  EACH
 REGULATORY  OR  LAW  ENFORCEMENT AUTHORITY TO WHICH THE ATTORNEY GENERAL
 MAKES  AVAILABLE  THE  INFORMATION REFERRED TO IN THE PRECEDING SUBPARA-
 GRAPH SHALL AGREE TO MAINTAIN SUCH INFORMATION IN ACCORDANCE  WITH  SUCH
 ASSURANCES OF CONFIDENTIALITY AS THE ATTORNEY GENERAL DEEMS APPROPRIATE.
   3.  RETALIATION.  (A)(I)  IT  SHALL  BE  UNLAWFUL  FOR  ANY CURRENT OR
 PROSPECTIVE EMPLOYER, CONTRACTOR OR AGENT TO DISCHARGE, DEMOTE, SUSPEND,
 THREATEN OR HARASS, DIRECTLY OR  INDIRECTLY,  OR  IN  ANY  OTHER  MANNER
 DISCRIMINATE AGAINST ANY PERSON IN HIRING OR IN THE TERMS AND CONDITIONS
 OF  EMPLOYMENT  OR  CONTRACTING  BECAUSE  OF ANY LAWFUL ACT DONE BY SUCH
 PERSON: (A) IN PROVIDING INFORMATION TO THE ATTORNEY GENERAL PURSUANT TO
 THIS SECTION; (B) IN INITIATING,  TESTIFYING  IN  OR  ASSISTING  IN  ANY
 INVESTIGATION  OR  COVERED ENFORCEMENT ACTION UNDER THIS ARTICLE, OR ANY
 RELATED ACTION; OR (C) IN REPORTING ANY VIOLATION  OF  THIS  ARTICLE  TO
 ANOTHER  GOVERNMENT  ENTITY,  TO  A DIRECT SUPERVISOR OR TO A COMPLIANCE
 OFFICER OF SUCH EMPLOYER, CONTRACTOR OR AGENT.
   (II) ANY PERSON WHO IS DISCHARGED, DEMOTED, SUSPENDED,  THREATENED  OR
 HARASSED  OR  IN ANY OTHER MANNER DISCRIMINATED AGAINST IN THE TERMS AND
 CONDITIONS OF EMPLOYMENT, OR OTHERWISE HARMED OR PENALIZED BY AN EMPLOY-
 ER, OR A PROSPECTIVE EMPLOYER, BECAUSE  OF  LAWFUL  ACTS  DONE  BY  SUCH
 PERSON  OR  ASSOCIATED  OTHERS IN FURTHERANCE OF ANY COVERED ENFORCEMENT
 ACTION OR RELATED ACTION OR OTHER EFFORTS TO STOP ONE OR MORE VIOLATIONS
 OF THIS ARTICLE, INCLUDING BUT NOT LIMITED TO REPORTING SUCH  VIOLATIONS
 TO  ANY  GOVERNMENT  ENTITY,  TO  A DIRECT SUPERVISOR OR TO A COMPLIANCE
 OFFICER OF SUCH EMPLOYER OR PROSPECTIVE EMPLOYER, SHALL BE  ENTITLED  TO
 ALL  RELIEF  NECESSARY  TO  MAKE  SUCH  PERSON  WHOLE. SUCH RELIEF SHALL
 INCLUDE BUT NOT BE LIMITED TO:
   (A) AN INJUNCTION TO RESTRAIN CONTINUED DISCRIMINATION;
   (B) HIRING, CONTRACTING OR REINSTATEMENT TO THE POSITION  SUCH  PERSON
 WOULD HAVE HAD BUT FOR THE DISCRIMINATION OR TO AN EQUIVALENT POSITION;
   (C) REINSTATEMENT OF FULL FRINGE BENEFITS AND SENIORITY RIGHTS;
   (D) PAYMENT OF TWO TIMES BACK PAY, PLUS INTEREST; AND
   (E)  COMPENSATION FOR ANY SPECIAL DAMAGES SUSTAINED AS A RESULT OF THE
 DISCRIMINATION, INCLUDING LITIGATION  COSTS  AND  REASONABLE  ATTORNEYS'
 FEES.
   (B)  FOR  PURPOSES  OF THIS SUBDIVISION, A "LAWFUL" ACT SHALL INCLUDE,
 BUT NOT BE LIMITED TO, OBTAINING OR TRANSMITTING TO THE ATTORNEY GENERAL
 OR PRIVATE COUNSEL EMPLOYED TO INVESTIGATE OR POTENTIALLY FILE WITH  THE
 ATTORNEY  GENERAL  INFORMATION  RELATING TO A VIOLATION OF THIS ARTICLE,
 EVEN THOUGH SUCH  ACT  MAY  VIOLATE  A  CONTRACT,  SEVERANCE  AGREEMENT,
 EMPLOYMENT TERM, OR DUTY OWED TO THE EMPLOYER OR CONTRACTOR.
   (C)  ANY  PERSON SEEKING RELIEF PURSUANT TO SUBPARAGRAPH (II) OF PARA-
 GRAPH (A) OF THIS SUBDIVISION MAY BRING AN  ACTION  IN  THE  APPROPRIATE
 SUPREME  COURT  FOR  THE  RELIEF  PROVIDED  IN THIS SUBDIVISION. A CIVIL
 ACTION UNDER THIS SUBDIVISION SHALL BE COMMENCED NO LATER THAN TEN YEARS
 AFTER THE DATE ON WHICH THE VIOLATION OF THIS ARTICLE IS COMMITTED.
   4. NO WAIVER OR PREEMPTION. (A) THIS SECTION SHALL NOT:  (I)  PREEMPT,
 LIMIT OR RESTRICT THE AUTHORITY OR DISCRETION OF THE ATTORNEY GENERAL TO
 INVESTIGATE OR ENFORCE VIOLATIONS OF THIS ARTICLE; (II) LIMIT ANY POWERS
 GRANTED  ELSEWHERE IN THIS CHAPTER AND OTHER LAWS TO THE ATTORNEY GENER-
 AL, STATE AGENCIES OR LOCAL GOVERNMENTS TO INVESTIGATE OR ENFORCE POSSI-
 BLE VIOLATIONS OF THIS ARTICLE;  (III)  AUTHORIZE  A  PRIVATE  RIGHT  OF
 ACTION INVOLVING FRAUDULENT PRACTICES IN CONNECTION WITH THE SECURITIES;
 (IV) PREVENT OR PROHIBIT A PERSON FROM VOLUNTARILY DISCLOSING ANY INFOR-
 MATION  CONCERNING  A  VIOLATION  OF THIS ARTICLE TO ANY LAW ENFORCEMENT
 A. 8016                             5
 
 AGENCY OR SELF-REGULATORY ORGANIZATION; OR (V) PREEMPT, LIMIT,  RESTRICT
 OR  OTHERWISE  AFFECT  THE RIGHTS AND REWARDS PROVIDED TO QUI TAM PLAIN-
 TIFFS UNDER ARTICLE THIRTEEN OF THE STATE FINANCE LAW.
   (B)  THE  RIGHTS  AND REMEDIES PROVIDED FOR IN THIS SECTION MAY NOT BE
 WAIVED BY ANY AGREEMENT, POLICY FORM, OR  CONDITION  OF  EMPLOYMENT.  NO
 SALARY  OR WAGES EARNED BY THE WHISTLEBLOWER DURING SUCH WHISTLEBLOWER'S
 EMPLOYMENT,  NOR  ANY  CONSIDERATION  PROVIDED  THE   WHISTLEBLOWER   IN
 CONNECTION  WITH  SUCH  WHISTLEBLOWER'S  SEVERANCE FROM SUCH EMPLOYMENT,
 RELATED TO ORIGINAL INFORMATION OR THE  COVERED  ENFORCEMENT  ACTION  OR
 RELATED  ACTION  MAY  BE  RECOUPED BY ANY RIGHT OF ACTION BROUGHT BY THE
 EMPLOYER.
   (C) NOTHING IN THIS SECTION SHALL BE DEEMED TO  DIMINISH  THE  RIGHTS,
 PRIVILEGES,  OR REMEDIES OF ANY WHISTLEBLOWER UNDER ANY FEDERAL OR STATE
 LAW, OR UNDER ANY COLLECTIVE BARGAINING AGREEMENT.
   5. REGULATIONS. THE ATTORNEY GENERAL IS AUTHORIZED TO ADOPT SUCH RULES
 AND REGULATIONS AS ARE NECESSARY TO  EFFECTUATE  THE  PURPOSES  OF  THIS
 SECTION;  PROVIDED  THAT  THE  ATTORNEY  GENERAL  SHALL CONSULT WITH THE
 SUPERINTENDENT OF THE DEPARTMENT OF FINANCIAL SERVICES PRIOR TO  PROPOS-
 ING SUCH RULES OR REGULATIONS.
   §  3.  Subsection  (a) of section 104 of the financial services law is
 amended by adding five new paragraphs 6, 7, 8,  9  and  10  to  read  as
 follows:
   (6)  "COVERED  JUDICIAL  OR ADMINISTRATIVE ACTION" SHALL MEAN: (A) ANY
 ONE OR MORE JUDICIAL OR ADMINISTRATIVE ACTIONS BROUGHT BY THE DEPARTMENT
 UNDER THE INSURANCE LAW, THE BANKING LAW OR THIS CHAPTER THAT RESULTS IN
 MONETARY SANCTIONS EXCEEDING ONE MILLION DOLLARS IN THE  AGGREGATE;  AND
 (B)  ANY  INVESTIGATIONS,  INQUIRIES,  SETTLEMENTS  OR ANY OTHER ACTIONS
 BROUGHT OR MADE WITHIN THE SOLE DISCRETION OF THE SUPERINTENDENT, BY THE
 DEPARTMENT UNDER THE INSURANCE LAW, THE BANKING LAW OR THIS CHAPTER THAT
 RESULT IN MONETARY SANCTIONS EXCEEDING ONE MILLION DOLLARS IN THE AGGRE-
 GATE.
   (7) "MONETARY SANCTIONS" SHALL MEAN:
   (A) ANY MONIES ORDERED TO BE PAID,  OR  THAT  ARE  OTHERWISE  PAID  OR
 FORFEITED  AS A RESULT OF A COVERED JUDICIAL OR ADMINISTRATIVE ACTION OR
 ANY SETTLEMENT OF SUCH ACTION, OR RELATED ACTION; AND
   (B) ANY MONIES DEPOSITED INTO A DISGORGEMENT FUND  OR  PUBLIC  BENEFIT
 FUND  AS  A RESULT OF A COVERED JUDICIAL OR ADMINISTRATIVE ACTION OR ANY
 SETTLEMENT OF SUCH ACTION, OR RELATED ACTION.
   (8) "ORIGINAL INFORMATION" SHALL MEAN INFORMATION THAT:
   (A) IS DERIVED FROM THE INDEPENDENT KNOWLEDGE OR ANALYSIS OF A  WHIST-
 LEBLOWER;
   (B)  IS  NOT KNOWN TO THE DEPARTMENT FROM ANY OTHER SOURCE, UNLESS THE
 WHISTLEBLOWER IS THE ORIGINAL SOURCE OF THE INFORMATION; AND
   (C) IS NOT EXCLUSIVELY DERIVED FROM AN ALLEGATION MADE IN  A  JUDICIAL
 OR  ADMINISTRATIVE  HEARING, IN A GOVERNMENTAL REPORT, HEARING, AUDIT OR
 INVESTIGATION OR FROM THE NEWS MEDIA,  UNLESS  THE  WHISTLEBLOWER  IS  A
 SOURCE  OF  THE INFORMATION.   FOR PURPOSES OF THIS SUBPARAGRAPH: (I) AN
 ALLEGATION IS NOT MADE IN A GOVERNMENTAL REPORT OR INVESTIGATION BECAUSE
 IT WAS DISCLOSED OR PROVIDED PURSUANT TO ARTICLE SIX OF THE PUBLIC OFFI-
 CERS LAW, OR UNDER ANY OTHER  FEDERAL,  STATE  OR  LOCAL  LAW,  RULE  OR
 PROGRAM  ENABLING  THE  PUBLIC  TO REQUEST, RECEIVE OR VIEW DOCUMENTS OR
 INFORMATION IN THE POSSESSION OF PUBLIC OFFICIALS  OR  PUBLIC  AGENCIES;
 AND  (II)  AN  ALLEGATION  IS  NOT MADE IN THE NEWS MEDIA MERELY BECAUSE
 INFORMATION OF ALLEGATIONS OR  TRANSACTIONS  HAVE  BEEN  POSTED  ON  THE
 INTERNET OR ON A COMPUTER NETWORK.
 A. 8016                             6
 
   (9)  "RELATED ACTION" SHALL MEAN ANY JUDICIAL OR ADMINISTRATIVE ACTION
 BROUGHT BY ANOTHER STATE OR LOCAL AGENCY OR ENTITY BASED  UPON  ORIGINAL
 INFORMATION  PROVIDED  BY A WHISTLEBLOWER TO THE DEPARTMENT THAT RESULTS
 IN MONETARY SANCTIONS EXCEEDING ONE MILLION DOLLARS IN THE AGGREGATE.
   (10)  "WHISTLEBLOWER" SHALL MEAN ANY INDIVIDUAL OR ENTITY WHO PROVIDES
 OR TWO OR MORE INDIVIDUALS ACTING JOINTLY WHO PROVIDE INFORMATION RELAT-
 ING TO A VIOLATION OF THE BANKING LAW, THE INSURANCE LAW,  THIS  CHAPTER
 OR RULES AND REGULATIONS PROMULGATED THEREUNDER TO THE DEPARTMENT.
   §  4. The financial services law is amended by adding two new sections
 410 and 411 to read as follows:
   § 410. FINANCIAL SERVICES  WHISTLEBLOWER  AWARDS.    (A)  (1)  IN  ANY
 COVERED  JUDICIAL  OR  ADMINISTRATIVE  ACTION, OR RELATED ACTION, ONE OR
 MORE WHISTLEBLOWERS WHO VOLUNTARILY PROVIDE ORIGINAL INFORMATION TO  THE
 DEPARTMENT THAT WAS THE BASIS FOR THE SUCCESSFUL JUDICIAL OR ADMINISTRA-
 TIVE  ACTION,  OR  A  RELATED  ACTION,  SHALL,  IN  ACCORDANCE  WITH THE
 PROVISIONS OF THIS SECTION, BE ENTITLED TO RECEIVE BETWEEN TEN AND THIR-
 TY PERCENT OF THE MONETARY SANCTIONS THAT RESULT FROM SUCH  ACTION.  ANY
 PAYMENT  TO  A  PERSON PURSUANT TO THIS PARAGRAPH SHALL BE MADE FROM THE
 MONETARY SANCTIONS OF THE COVERED JUDICIAL OR ADMINISTRATIVE ACTION,  OR
 RELATED ACTION.
   (2)  A  WHISTLEBLOWER  WHO  PROVIDES  THE  DEPARTMENT WITH INFORMATION
 RELATED TO INFORMATION PREVIOUSLY REPORTED TO THE DEPARTMENT BY A WHIST-
 LEBLOWER WHO IS ELIGIBLE FOR AN AWARD UNDER THIS SECTION  SHALL  NOT  BE
 ENTITLED  TO  AN  AWARD,  UNLESS  THE INFORMATION PROVIDED BY THE SECOND
 WHISTLEBLOWER MATERIALLY ADDS TO THE INFORMATION REPORTED TO THE DEPART-
 MENT BY THE FIRST WHISTLEBLOWER.
   (3) ANY AMOUNT PAID UNDER PARAGRAPH ONE OF THIS  SUBSECTION  SHALL  BE
 FIRST APPLIED IN ACCORDANCE WITH THE PROVISIONS OF SUCH PARAGRAPH BEFORE
 BEING  APPLIED,  IF  APPLICABLE,  IN ACCORDANCE WITH SUBPARAGRAPH (B) OF
 PARAGRAPH ONE OF SUBSECTION (A) OF SECTION FOUR HUNDRED  EIGHT  OF  THIS
 ARTICLE.
   (B)(1)  THE  DETERMINATION  OF  THE AMOUNT OF AN AWARD MADE WITHIN THE
 RANGE ESTABLISHED BY THIS SECTION SHALL BE SOLELY IN THE  DISCRETION  OF
 THE SUPERINTENDENT.
   (2) IN DETERMINING THE AMOUNT OF AN AWARD MADE WITHIN THE RANGE ESTAB-
 LISHED BY THIS SECTION, THE SUPERINTENDENT SHALL TAKE INTO CONSIDERATION
 THE FOLLOWING FACTORS:
   (A)  THE SIGNIFICANCE OF THE INFORMATION PROVIDED BY THE WHISTLEBLOWER
 TO THE SUCCESS OF THE COVERED JUDICIAL OR ADMINISTRATIVE ACTION;
   (B) THE DEGREE OF ASSISTANCE PROVIDED BY  THE  WHISTLEBLOWER  AND  ANY
 LEGAL  REPRESENTATIVE  OF  THE  WHISTLEBLOWER  IN  A COVERED JUDICIAL OR
 ADMINISTRATIVE ACTION;
   (C) THE INTEREST OF THE DEPARTMENT  IN  DETERRING  VIOLATIONS  OF  THE
 BANKING LAW, THE INSURANCE LAW OR THIS CHAPTER AND PROMOTING THE REPORT-
 ING BY WHISTLEBLOWERS OF INFORMATION RELATING TO SUCH VIOLATIONS; AND
   (D)  SUCH ADDITIONAL RELEVANT FACTORS AS THE SUPERINTENDENT MAY ESTAB-
 LISH BY RULE OR REGULATION.
   (C) NO AWARD SHALL BE MADE TO ANY WHISTLEBLOWER IF THE  SUPERINTENDENT
 SHALL DETERMINE THAT THE WHISTLEBLOWER:
   (1)  IS,  OR  WAS  AT THE TIME THE WHISTLEBLOWER ACQUIRED THE ORIGINAL
 INFORMATION SUBMITTED TO THE DEPARTMENT, A MEMBER, OFFICER  OR  EMPLOYEE
 OF A FEDERAL, STATE OR LOCAL LAW ENFORCEMENT AGENCY THAT REGULATES BANK-
 ING, INSURANCE OR FINANCIAL SERVICES PRODUCTS; OR
   (2)  IS,  OR  WAS  AT THE TIME THE WHISTLEBLOWER ACQUIRED THE ORIGINAL
 INFORMATION SUBMITTED TO THE DEPARTMENT, AN OFFICER  OR  EMPLOYEE  OF  A
 SELF-REGULATORY ORGANIZATION THAT REGULATES BANKING, INSURANCE OR FINAN-
 A. 8016                             7
 
 CIAL  SERVICES PRODUCTS AND WHO HAS A DUTY BY VIRTUE OF SUCH POSITION TO
 INVESTIGATE OR REPORT A LEGAL VIOLATION INVOLVING BANKING, INSURANCE, OR
 FINANCIAL SERVICES PRODUCTS; PROVIDED THAT THIS SUBPARAGRAPH  SHALL  NOT
 APPLY IF THE WHISTLEBLOWER PROPERLY REPORTED THE ORIGINAL INFORMATION TO
 SUCH SELF-REGULATORY ORGANIZATION AND THE SUPERINTENDENT DETERMINES THAT
 THE  ORGANIZATION  DID  NOT  TAKE ADEQUATE MEASURES WITHIN SIXTY DAYS TO
 INVESTIGATE CONDUCT THAT WOULD BE A VIOLATION OF THIS ARTICLE; OR
   (3) WAS CONVICTED OF A CRIMINAL VIOLATION RELATED TO THE COVERED JUDI-
 CIAL OR ADMINISTRATIVE ACTION  FOR  WHICH  THE  WHISTLEBLOWER  OTHERWISE
 COULD RECEIVE AN AWARD UNDER THIS SECTION; OR
   (4)  MATERIALLY FAILED TO SUBMIT INFORMATION TO THE DEPARTMENT IN SUCH
 FORM AS THE DEPARTMENT MAY REQUIRE; OR
   (5)(A) KNOWINGLY AND WILLFULLY MAKES FALSE, FICTITIOUS  OR  FRAUDULENT
 STATEMENTS OR REPRESENTATIONS TO THE DEPARTMENT WHEN SUBMITTING INFORMA-
 TION UNDER THIS SECTION, OR (B) USES ANY FALSE WRITING OR DOCUMENT KNOW-
 ING  THE  WRITING  OR DOCUMENT CONTAINED FALSE, FICTITIOUS OR FRAUDULENT
 STATEMENTS OR ENTRIES WHEN SUBMITTING INFORMATION UNDER THIS SECTION.
   (D) (1) ANY WHISTLEBLOWER WHO MAKES A CLAIM FOR AN  AWARD  UNDER  THIS
 SECTION MAY BE REPRESENTED BY COUNSEL.
   (2) ANY WHISTLEBLOWER WHO ANONYMOUSLY MAKES A CLAIM FOR AN AWARD UNDER
 THIS SECTION SHALL BE REPRESENTED BY COUNSEL IF THE WHISTLEBLOWER ANONY-
 MOUSLY  SUBMITS THE INFORMATION UPON WHICH THE CLAIM IS BASED.  PRIOR TO
 THE PAYMENT OF AN AWARD, A WHISTLEBLOWER SHALL DISCLOSE THE IDENTITY  OF
 THE  WHISTLEBLOWER  AND PROVIDE SUCH OTHER INFORMATION AS THE DEPARTMENT
 MAY REQUIRE, DIRECTLY OR THROUGH COUNSEL FOR THE WHISTLEBLOWER.
   (E) NO CONTRACT WITH THE DEPARTMENT SHALL BE NECESSARY FOR ANY  WHIST-
 LEBLOWER  TO  RECEIVE  AN  AWARD  UNDER  THIS  SECTION, UNLESS OTHERWISE
 REQUIRED BY THE DEPARTMENT BY RULE OR REGULATION.
   (F) ANY DETERMINATION MADE UNDER THIS SECTION SHALL BE SOLELY  IN  THE
 DISCRETION  OF  THE SUPERINTENDENT; PROVIDED THAT SUCH AWARD SHALL BE IN
 THE RANGES ESTABLISHED BY  PARAGRAPH  ONE  OF  SUBSECTION  (A)  OF  THIS
 SECTION,  AND  THE  SUPERINTENDENT  SHALL  TAKE INTO ACCOUNT THE FACTORS
 LISTED IN PARAGRAPH TWO OF SUBSECTION (B) OF THIS SECTION IN DETERMINING
 THE AMOUNT OF THE AWARD.  ANY SUCH DETERMINATION MAY  BE  CHALLENGED  IN
 ACCORDANCE  WITH  ARTICLE  SEVENTY-EIGHT  OF  THE CIVIL PRACTICE LAW AND
 RULES, PROVIDED THAT ANY SUCH CHALLENGE SHALL BE BROUGHT  WITHIN  FORTY-
 FIVE DAYS OF THE DATE OF ANY SUCH DETERMINATION UNDER CHALLENGE.
   §  411. RETALIATION PROTECTIONS. (A) NO CURRENT OR PROSPECTIVE EMPLOY-
 ER, CONTRACTOR OR AGENT MAY  DISCHARGE,  DEMOTE,  SUSPEND,  THREATEN  OR
 HARASS,  DIRECTLY  OR  INDIRECTLY,  OR  IN ANY OTHER MANNER DISCRIMINATE
 AGAINST ANY PERSON IN HIRING OR IN THE TERMS AND CONDITIONS  OF  EMPLOY-
 MENT BECAUSE OF ANY LAWFUL ACT DONE BY SUCH PERSON:
   (1) IN PROVIDING INFORMATION TO THE DEPARTMENT IN ACCORDANCE WITH THIS
 SECTION;
   (2)  IN INITIATING, TESTIFYING IN OR ASSISTING IN ANY INVESTIGATION OR
 JUDICIAL OR ADMINISTRATIVE ACTION OF THE DEPARTMENT OR  RELATED  ACTION;
 OR
   (3)  IN  REPORTING ANY VIOLATION OF THE INSURANCE LAW, THE BANKING LAW
 OR THIS CHAPTER TO ANOTHER GOVERNMENT ENTITY, TO A DIRECT SUPERVISOR  OR
 TO A COMPLIANCE OFFICER OF SUCH EMPLOYER, CONTRACTOR OR AGENT.
   (B)(1) ANY PERSON WHO IS DISCHARGED, DEMOTED, SUSPENDED, THREATENED OR
 HARASSED  OR  IN ANY OTHER MANNER DISCRIMINATED AGAINST IN THE TERMS AND
 CONDITIONS OF EMPLOYMENT, OR OTHERWISE HARMED OR PENALIZED BY AN EMPLOY-
 ER, OR A PROSPECTIVE EMPLOYER, BECAUSE  OF  LAWFUL  ACTS  DONE  BY  SUCH
 PERSON  OR  ASSOCIATED  OTHERS IN FURTHERANCE OF ANY COVERED JUDICIAL OR
 ADMINISTRATIVE ACTION OR RELATED ACTION OR OTHER EFFORTS TO STOP ONE  OR
 A. 8016                             8
 
 MORE  VIOLATIONS  OF THE INSURANCE LAW, THE BANKING LAW OR THIS CHAPTER,
 INCLUDING BUT NOT LIMITED TO REPORTING SUCH VIOLATIONS TO ANY GOVERNMENT
 ENTITY, TO A DIRECT SUPERVISOR  OR  TO  A  COMPLIANCE  OFFICER  OF  SUCH
 EMPLOYER OR PROSPECTIVE EMPLOYER, SHALL BE ENTITLED TO ALL RELIEF NECES-
 SARY  TO  MAKE  SUCH  PERSON WHOLE. SUCH RELIEF SHALL INCLUDE BUT NOT BE
 LIMITED TO:
   (A) AN INJUNCTION TO RESTRAIN CONTINUED DISCRIMINATION;
   (B) HIRING, CONTRACTING OR REINSTATEMENT TO THE POSITION  SUCH  PERSON
 WOULD HAVE HAD BUT FOR THE DISCRIMINATION OR TO AN EQUIVALENT POSITION;
   (C) REINSTATEMENT OF FULL FRINGE BENEFITS AND SENIORITY RIGHTS;
   (D) PAYMENT OF TWO TIMES BACK PAY, PLUS INTEREST; AND
   (E)  COMPENSATION FOR ANY SPECIAL DAMAGES SUSTAINED AS A RESULT OF THE
 DISCRIMINATION, INCLUDING LITIGATION  COSTS  AND  REASONABLE  ATTORNEYS'
 FEES.
   (2)  FOR  PURPOSES  OF THIS SECTION, A "LAWFUL" ACT SHALL INCLUDE, BUT
 NOT BE LIMITED TO,  OBTAINING  OR  TRANSMITTING  TO  THE  DEPARTMENT  OR
 PRIVATE  COUNSEL  EMPLOYED  TO  INVESTIGATE OR POTENTIALLY FILE WITH THE
 DEPARTMENT INFORMATION RELATING TO VIOLATIONS OF THE  BANKING  LAW,  THE
 INSURANCE  LAW,  OR  THIS  CHAPTER,  EVEN  THOUGH SUCH ACT MAY VIOLATE A
 CONTRACT, SEVERANCE AGREEMENT, EMPLOYMENT TERM,  OR  DUTY  OWED  TO  THE
 EMPLOYER OR CONTRACTOR.
   (3) ANY PERSON SEEKING RELIEF PURSUANT TO THIS SUBSECTION MAY BRING AN
 ACTION  IN THE APPROPRIATE SUPREME COURT FOR THE RELIEF PROVIDED IN THIS
 SECTION. THE LIMITATIONS PERIOD OF ANY SUCH ACTION SHALL BE TEN YEARS.
   (4) NOTHING IN THIS SECTION SHALL BE DEEMED TO  DIMINISH  THE  RIGHTS,
 PRIVILEGES,  OR REMEDIES OF ANY WHISTLEBLOWER UNDER ANY FEDERAL OR STATE
 LAW, OR UNDER ANY COLLECTIVE BARGAINING AGREEMENT.
   (C)(1) NEITHER THE SUPERINTENDENT NOR ANY OFFICER OR EMPLOYEE  OF  THE
 DEPARTMENT,   SHALL  DISCLOSE  ANY  INFORMATION,  INCLUDING  INFORMATION
 PROVIDED BY A WHISTLEBLOWER TO THE DEPARTMENT, WHICH COULD REASONABLY BE
 EXPECTED TO REVEAL THE IDENTITY OF A  WHISTLEBLOWER,  UNLESS  AND  UNTIL
 SUCH  INFORMATION  IS  REQUIRED TO BE DISCLOSED TO A PARTY IN CONNECTION
 WITH AN ACTION OR PROCEEDINGS BROUGHT BY THE SUPERINTENDENT, A  LAWFULLY
 ISSUED  SUBPOENA  BY  A  FEDERAL  OR STATE LAW ENFORCEMENT AUTHORITY, OR
 OTHERWISE BY A COURT ORDER. SUCH INFORMATION SHALL BE DEEMED INFORMATION
 EXEMPTED FROM DISCLOSURE UNDER ARTICLE SIX OF THE PUBLIC OFFICERS LAW.
   (2) NOTWITHSTANDING THE PRECEDING PARAGRAPH, WITHOUT THE LOSS  OF  ITS
 STATUS  AS CONFIDENTIAL IN THE HANDS OF THE SUPERINTENDENT, ALL INFORMA-
 TION REFERRED TO IN  PARAGRAPH  ONE  OF  THIS  SUBSECTION  MAY,  IN  THE
 DISCRETION  OF THE SUPERINTENDENT, WHEN DETERMINED BY THE SUPERINTENDENT
 TO BE NECESSARY TO ACCOMPLISH THE PURPOSES  OF  THIS  ARTICLE,  BE  MADE
 AVAILABLE  TO THE APPROPRIATE REGULATORY AND LAW ENFORCEMENT AUTHORITIES
 OF THIS STATE, ANOTHER STATE, THE FEDERAL  GOVERNMENT,  FOREIGN  GOVERN-
 MENTS, OR SELF-REGULATORY ORGANIZATIONS. EACH REGULATORY OR LAW ENFORCE-
 MENT  AUTHORITY TO WHICH THE SUPERINTENDENT MAKES AVAILABLE THE INFORMA-
 TION REFERRED TO IN THE PRECEDING PARAGRAPH SHALL AGREE TO MAINTAIN SUCH
 INFORMATION IN ACCORDANCE WITH SUCH ASSURANCES OF CONFIDENTIALITY AS THE
 SUPERINTENDENT MAY DETERMINE TO BE APPROPRIATE.
   (D)(1) NOTHING IN THIS SECTION SHALL LIMIT, OR SHALL BE  CONSTRUED  TO
 LIMIT  THE SUPERINTENDENT'S AUTHORITY UNDER SECTIONS TWO HUNDRED TWO AND
 THREE HUNDRED ONE OF THIS CHAPTER, OR  THAT  OF  OTHER  LAW  ENFORCEMENT
 AUTHORITIES.
   (2)  NOTHING  IN  THIS  SECTION  SHALL LIMIT, OR SHALL BE CONSTRUED TO
 LIMIT, THE RIGHTS AND REWARDS PROVIDED TO QUI TAM PLAINTIFFS UNDER ARTI-
 CLE THIRTEEN OF THE STATE FINANCE LAW.
 A. 8016                             9
 
   (E) THE RIGHTS AND REMEDIES PROVIDED FOR IN THIS SECTION  MAY  NOT  BE
 WAIVED  BY  ANY  AGREEMENT,  POLICY  FORM,  OR  CONDITION OF EMPLOYMENT,
 INCLUDING BY A PRE-DISPUTE ARBITRATION AGREEMENT,  WHICH  SHALL  NOT  BE
 VALID  OR  ENFORCEABLE  IF  IT REQUIRES ARBITRATION OF A DISPUTE ARISING
 UNDER  THIS  SECTION.  NO  SALARY  OR  WAGES EARNED BY THE WHISTLEBLOWER
 DURING SUCH WHISTLEBLOWER'S EMPLOYMENT, NOR ANY  CONSIDERATION  PROVIDED
 THE WHISTLEBLOWER IN CONNECTION WITH SUCH WHISTLEBLOWER'S SEVERANCE FROM
 SUCH EMPLOYMENT, RELATED TO ORIGINAL INFORMATION OR THE COVERED JUDICIAL
 OR  ADMINISTRATIVE ACTION MAY BE RECOUPED BY ANY RIGHT OF ACTION BROUGHT
 BY THE EMPLOYER.
   (F) THE SUPERINTENDENT IS HEREBY AUTHORIZED AND EMPOWERED  TO  PROMUL-
 GATE  SUCH RULES AND REGULATIONS AS THE SUPERINTENDENT SHALL DEEM APPRO-
 PRIATE FOR THE ENFORCEMENT OF THIS SECTION;  PROVIDED  THAT  THE  SUPER-
 INTENDENT  SHALL  CONSULT  WITH  THE ATTORNEY GENERAL PRIOR TO PROPOSING
 SUCH RULES OR REGULATIONS.
   § 5. Paragraph (b) of subdivision 11 of section 4 of the state finance
 law, as amended by chapter 171 of the laws of 2022, is amended  to  read
 as follows:
   (b) Paragraph (a) of this subdivision shall not apply to (1) moneys to
 be  distributed  to the federal government, to a local government, or to
 any holder of a bond or other debt instrument issued by the  state,  any
 public  authority,  or  any public benefit corporation; (2) moneys TO BE
 DISTRIBUTED TO A WHISTLEBLOWER PURSUANT TO SECTION THREE HUNDRED  FIFTY-
 THREE-B  OF  THE GENERAL BUSINESS LAW OR SECTION FOUR HUNDRED TEN OF THE
 FINANCIAL SERVICES LAW, OR to be distributed solely or exclusively as  a
 payment  of  damages or restitution to individuals or entities that were
 specifically injured or harmed by the defendant's  or  settling  party's
 conduct  and  that  are identified in, or can be identified by the terms
 of, the relevant judgment, agreement to settle, assurance of  discontin-
 uance,  or  relevant  instrument resolving the claim or cause of action;
 (3) moneys recovered or obtained by a state agency or a  state  official
 or employee acting in their official capacity where application of para-
 graph  (a)  of  this  subdivision is prohibited by federal law, rule, or
 regulation, or would result in the reduction or loss of federal funds or
 eligibility for federal benefits pursuant to federal law, rule, or regu-
 lation; (4) moneys recovered or obtained by or on  behalf  of  a  public
 authority,  a public benefit corporation, the department of taxation and
 finance, the workers' compensation board,  the  New  York  state  higher
 education  services corporation, the tobacco settlement financing corpo-
 ration, a state or local retirement system, an employee  health  benefit
 program  administered by the New York state department of civil service,
 the Title IV-D child support fund, the lottery prize fund, the abandoned
 property fund, or an endowment of the state university of  New  York  or
 any  unit  thereof  or any state agency, provided that all of the moneys
 received or recovered are immediately transferred to the relevant public
 authority, public benefit corporation,  department,  fund,  program,  or
 endowment;  (5)  moneys to be refunded to an individual or entity as (i)
 an overpayment of a tax, fine, penalty,  fee,  insurance  premium,  loan
 payment, charge or surcharge; (ii) a return of seized assets, or (iii) a
 payment made in error; (6) moneys to be used to prevent, abate, restore,
 mitigate,  or  control  any  identifiable  instance  of prior or ongoing
 water, land or air pollution; and (7) moneys  deposited  to  the  opioid
 settlement fund established in section ninety-nine-nn of this chapter.
   §  6.  Paragraph  (b) of subdivision 16 of section 63 of the executive
 law, as amended by chapter 171 of the laws of 2022, is amended  to  read
 as follows:
 A. 8016                            10
 
   (b) Paragraph (a) of this subdivision shall not apply to any provision
 in  the resolution of a claim or cause of action providing (1) moneys to
 be distributed to the federal government, to a local government,  or  to
 any  holder  of a bond or other debt instrument issued by the state, any
 public  authority,  or  any public benefit corporation; (2) moneys TO BE
 DISTRIBUTED TO A WHISTLEBLOWER PURSUANT TO SECTION THREE HUNDRED  FIFTY-
 THREE-B  OF  THE  GENERAL  BUSINESS  LAW, OR to be distributed solely or
 exclusively as a payment of damages or  restitution  to  individuals  or
 entities  that were specifically injured or harmed by the defendant's or
 settling party's conduct and that are identified in, or can  be  identi-
 fied by the terms of, the relevant judgment, stipulation, decree, agree-
 ment  to  settle,  assurance  of  discontinuance, or relevant instrument
 resolving the claim or cause of action; (3) moneys recovered or obtained
 by the attorney general where  application  of  paragraph  (a)  of  this
 subdivision  is prohibited by federal law, rule, or regulation, or would
 result in the reduction or loss of  federal  funds  or  eligibility  for
 federal  benefits  pursuant  to  federal  law,  rule, or regulation; (4)
 moneys recovered or obtained by or on behalf of a  public  authority,  a
 public  benefit corporation, the department of taxation and finance, the
 workers'  compensation  board,  the  New  York  state  higher  education
 services  corporation,  the  tobacco settlement financing corporation, a
 state or local retirement system, an  employee  health  benefit  program
 administered  by  the  New  York  state department of civil service, the
 Title IV-D child support fund, the lottery  prize  fund,  the  abandoned
 property  fund,  or  an endowment of the state university of New York or
 any unit thereof or any state agency, provided that all  of  the  moneys
 received or recovered are immediately transferred to the relevant public
 authority,  public  benefit  corporation,  department, fund, program, or
 endowment; (5) moneys to be refunded to an individual or entity  as  (i)
 an  overpayment  of  a  tax, fine, penalty, fee, insurance premium, loan
 payment, charge or surcharge; (ii) a return of seized assets; or (iii) a
 payment made in error; (6) moneys to be used to prevent, abate, restore,
 mitigate or control any identifiable instance of prior or ongoing water,
 land or air pollution; and/or (7) state moneys received as part  of  any
 statewide  opioid  settlement  agreements as defined in section 25.18 of
 the mental hygiene law, to be spent on eligible expenditures as  defined
 in section 25.18 of the mental hygiene law.
   §  7.  This  act shall take effect on the ninetieth day after it shall
 have become a law.