Do you support this bill?

Assembly Bill A5483

2011-2012 Legislative Session

Requires the natural heritage trust to invest its funds pursuant to the prudent investor act

download bill text pdf

Sponsored By

Archive: Last Bill Status - On Floor Calendar

Please enter your contact information

Home address is used to determine the senate district in which you reside. Your support or opposition to this bill is then shared immediately with the senator who represents you.

Optional services from the NY State Senate:

Create an account. An account allows you to officially support or oppose key legislation, sign petitions with a single click, and follow issues, committees, and bills that matter to you. When you create an account, you agree to this platform's terms of participation.

Include a custom message for your Senator? (Optional)

Enter a message to your senator. Many New Yorkers use this to share the reasoning behind their support or opposition to the bill. Others might share a personal anecdote about how the bill would affect them or people they care about.

Actions

co-Sponsors

multi-Sponsors

2011-A5483 (ACTIVE) - Details

Law Section:
Arts and Cultural Affairs Law
Laws Affected:
Amd ยงยง55.07 & 55.13, Arts & Cul L
Versions Introduced in Other Legislative Sessions:
2009-2010: A8791
2013-2014: A5626
2015-2016: A6477
2017-2018: A3238
2019-2020: A3251
2025-2026: A7344

2011-A5483 (ACTIVE) - Summary

Requires the natural heritage trust to invest it funds pursuant to the prudent investor act; requires such trust's annual report to be submitted to the chairperson of the senate cultural affairs, tourism, park and recreation committee and the chairperson of the assembly tourism, parks, arts and sports development committee.

2011-A5483 (ACTIVE) - Bill Text download pdf 

                            
                    S T A T E   O F   N E W   Y O R K
________________________________________________________________________

                                  5483

                       2011-2012 Regular Sessions

                          I N  A S S E M B L Y

                            February 22, 2011
                               ___________

Introduced by M. of A. ENGLEBRIGHT, McENENY -- read once and referred to
  the Committee on Tourism, Parks, Arts and Sports Development

AN  ACT  to  amend  the  arts  and  cultural affairs law, in relation to
  directing the natural heritage trust to invest its assets pursuant  to
  the  prudent  investor  act and the annual report of the trust's oper-
  ations

  THE PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND  ASSEM-
BLY, DO ENACT AS FOLLOWS:

  Section  1.  Subdivision  13 of section 55.07 of the arts and cultural
affairs law is renumbered subdivision 14 and a  new  subdivision  13  is
added to read as follows:
  13.  TO  INVEST  AND  REINVEST THE FUNDS OF THE CORPORATION CONSISTENT
WITH THE PRUDENT INVESTOR ACT AS ESTABLISHED IN SECTION  11-2.3  OF  THE
ESTATES,   POWERS   AND  TRUSTS  LAW  AND  IN  ACCORDANCE  WITH  SECTION
TWENTY-NINE HUNDRED TWENTY-FIVE OF THE PUBLIC AUTHORITIES LAW.
  S 2. Subdivision 3 of section 55.13 of the arts and  cultural  affairs
law is amended to read as follows:
  3.  The  trust  shall  submit  to the governor, the chairperson of the
senate finance committee, the chairperson of the assembly ways and means
committee, THE CHAIRPERSON OF  THE  SENATE  CULTURAL  AFFAIRS,  TOURISM,
PARKS AND RECREATION COMMITTEE, THE CHAIRPERSON OF THE ASSEMBLY TOURISM,
PARKS,  ARTS AND SPORTS DEVELOPMENT COMMITTEE and the state comptroller,
within ninety days after the end of its  fiscal  year,  a  complete  and
detailed  report of its operations and accomplishments, its receipts and
disbursements and its assets and liabilities.
  S 3. This act shall take effect immediately.


 EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                      [ ] is old law to be omitted.
                                                           LBD09127-01-1

Comments

Open Legislation is a forum for New York State legislation. All comments are subject to review and community moderation is encouraged.

Comments deemed off-topic, commercial, campaign-related, self-promotional; or that contain profanity, hate or toxic speech; or that link to sites outside of the nysenate.gov domain are not permitted, and will not be published. Attempts to intimidate and silence contributors or deliberately deceive the public, including excessive or extraneous posting/posts, or coordinated activity, are prohibited and may result in the temporary or permanent banning of the user. Comment moderation is generally performed Monday through Friday. By contributing or voting you agree to the Terms of Participation and verify you are over 13.

Create an account. An account allows you to sign petitions with a single click, officially support or oppose key legislation, and follow issues, committees, and bills that matter to you. When you create an account, you agree to this platform's terms of participation.