S T A T E O F N E W Y O R K
________________________________________________________________________
10319
I N A S S E M B L Y
May 22, 2012
___________
Introduced by M. of A. PEOPLES-STOKES -- Multi-Sponsored by -- M. of A.
AUBRY, BARRON, BOYLAND, CASTRO, COOK, CRESPO, DenDEKKER, DINOWITZ,
FARRELL, GIBSON, GLICK, GOTTFRIED, HEASTIE, JACOBS, JAFFEE, JEFFRIES,
MENG, MILLMAN, PERRY, N. RIVERA, P. RIVERA, ROBINSON, ROSENTHAL, SCAR-
BOROUGH, SCHIMEL, SKARTADOS, TITUS, WRIGHT -- read once and referred
to the Committee on Governmental Employees
AN ACT to amend the retirement and social security law, the education
law, the workers' compensation law and the state finance law, in
relation to requirements for reporting about the use of minority and
women-owned business enterprises
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
"Amendment No. 1 to the New York state MWBE asset management and finan-
cial institution strategy".
S 2. Paragraph (b) of subdivision 2 of section 423-c of the retirement
and social security law, as added by chapter 171 of the laws of 2010, is
amended to read as follows:
(b) within [sixty] ONE HUNDRED FIFTY days of the end of each fiscal
year following the effective date of this section, the state comptroller
shall report to the governor, legislature and the chief diversity offi-
cer of the state of New York on the participation of MWBE asset manag-
ers, MWBE financial institutions and MWBE professional service providers
in investment and brokerage transactions with or as providers of
services for the common retirement fund, including a comparative analy-
sis of such activity relative to such activity with all asset managers,
financial institutions and professional service providers for the rele-
vant period and on the progress and success of the efforts undertaken
during such period to achieve the goals of such strategy. Each report
shall be simultaneously published on the website of the common retire-
ment fund for not less than sixty days following its release to the
governor and the other recipients named above;
EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
[ ] is old law to be omitted.
LBD15810-01-2
A. 10319 2
S 3. Paragraph b of subdivision 2 of section 508-a of the education
law, as added by chapter 171 of the laws of 2010, is amended to read as
follows:
b. within [sixty] ONE HUNDRED FIFTY days of the end of each fiscal
year OF THE SYSTEM following the effective date of this section, the
retirement board shall report to the governor, legislature and the chief
diversity officer of the state of New York on the participation of MWBE
asset managers, MWBE financial institutions and MWBE professional
service providers in investment and brokerage transactions with or as
providers of services for the teachers' retirement system, including a
comparative analysis of such activity relative to such activity with all
asset managers, financial institutions and professional service provid-
ers for the relevant period and on the progress and success of the
efforts undertaken during such period to achieve the goals of such stra-
tegy. Each report shall be simultaneously published on the website of
the teachers' retirement system for not less than sixty days following
its release to the governor and the other recipients named above;
S 4. Paragraph (b) of subdivision 2 of section 87-i of the workers'
compensation law, as added by chapter 171 of the laws of 2010, is
amended to read as follows:
(b) within [sixty] ONE HUNDRED FIFTY days of the end of each fiscal
year OF THE STATE INSURANCE FUND following the effective date of this
section, the commissioners shall report to the governor, the legislature
and the chief diversity officer of the state of New York on the partic-
ipation of MWBE asset managers, MWBE financial institutions and MWBE
professional service providers in investment and brokerage transactions
with or as providers of services for the state insurance fund, including
a comparative analysis of such activity relative to such activity with
all asset managers, financial institutions and professional service
providers for the relevant period and on the progress and success of the
efforts undertaken during such period to achieve the goals of such stra-
tegy. Each report shall be simultaneously published on the website of
the state insurance fund for not less than sixty days following its
release to the governor and the other recipients named above;
S 5. Subparagraph (ii) of paragraph d of subdivision 2 of section 5 of
the state finance law, as added by chapter 171 of the laws of 2010, is
amended to read as follows:
(ii) within [sixty] ONE HUNDRED FIFTY days of the end of each fiscal
year OF THE DEFERRED COMPENSATION PLAN following the effective date of
this paragraph, the board shall report to the governor, legislature and
the chief diversity officer of the state of New York on the partic-
ipation of MWBE asset managers, MWBE financial institutions and MWBE
professional service providers in investment and brokerage transactions
with or as providers of services for the deferred compensation plans,
including a comparative analysis of such activity relative to such
activity with all asset managers, financial institutions and profes-
sional service providers for the relevant period and on the progress and
the success of the efforts undertaken during such period to achieve the
goals of such strategy. Each report shall be simultaneously published on
the website of the deferred compensation plans for not less than sixty
days following its release to the governor and the other recipients
named above;
S 6. This act shall take effect immediately.