senate Bill S1822

2013-2014 Legislative Session

Relates to investments by the comptroller; appropriation

download bill text pdf

Sponsored By

Archive: Last Bill Status -


  • Introduced
  • In Committee
  • On Floor Calendar
    • Passed Senate
    • Passed Assembly
  • Delivered to Governor
  • Signed/Vetoed by Governor

do you support this legislation?

You must fill out the form below in order to support or oppose this bill. X

You must login or fill out the fields below for the senator to have an accurate account of the support or opposition to this bill.

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.
Use this box to enter a message to your senator.

Actions

view actions (2)
Assembly Actions - Lowercase
Senate Actions - UPPERCASE
Jan 08, 2014 referred to finance
Jan 09, 2013 referred to finance

Co-Sponsors

S1822 - Details

Law Section:
Appropriations
Laws Affected:
Amd §13, add §423-d, R & SS L; amd §98-a, St Fin L
Versions Introduced in Previous Legislative Sessions:
2011-2012: S3006
2009-2010: S2329

S1822 - Summary

Relates to investments by the comptroller; requires the comptroller to comply with provisions of the executive law relating to participation by minority and women owned businesses in awarding contracts for investment services for the common retirement fund; creates commission to investigate investment practices of the comptroller's office and appropriates $500,000 therefor.

S1822 - Sponsor Memo

S1822 - Bill Text download pdf

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

                                  1822

                       2013-2014 Regular Sessions

                            I N  S E N A T E

                               (PREFILED)

                             January 9, 2013
                               ___________

Introduced  by Sens. ESPAILLAT, PERKINS -- read twice and ordered print-
  ed, and when printed to be committed to the Committee on Finance

AN ACT to amend the retirement and social security  law  and  the  state
  finance  law,  in relation to investment of the common retirement fund
  by the comptroller and creating an independent comptroller  investment
  review commission, and making an appropriation therefor

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

  Section 1. Section 13 of the retirement and  social  security  law  is
amended by adding a new subdivision l to read as follows:
  L.  CONSISTENT  WITH THE COMPTROLLER'S ROLE AS THE ADMINISTRATIVE HEAD
OF THE RETIREMENT SYSTEM AND SOLE TRUSTEE AND FIDUCIARY  OF  THE  COMMON
RETIREMENT  FUND,  THE COMPTROLLER SHALL COMPLY WITH THE REQUIREMENTS OF
ARTICLE FIFTEEN-A OF THE EXECUTIVE LAW WITH RESPECT TO ANY CONTRACTS FOR
INVESTMENT SERVICES.
  S 2. Section 98-a of the state finance law is amended by adding a  new
subdivision 3 to read as follows:
  3.  THE  COMPTROLLER  SHALL  COMPLY  WITH  THE REQUIREMENTS OF ARTICLE
FIFTEEN-A OF THE EXECUTIVE LAW WITH RESPECT TO ANY CONTRACTS FOR INVEST-
MENT SERVICES.
  S 3. The retirement and social security law is amended by adding a new
section 423-d to read as follows:
  S 423-D. COMPTROLLER INVESTMENT REVIEW COMMISSION. 1.  APPOINTMENT  OF
MEMBERS.  THERE  SHALL  BE  ESTABLISHED  A COMPTROLLER INVESTMENT REVIEW
COMMISSION TO CONSIST OF ELEVEN MEMBERS  TO  BE  APPOINTED  AS  FOLLOWS:
FIVE  MEMBERS  SHALL  BE APPOINTED BY THE GOVERNOR, TWO MEMBERS SHALL BE
APPOINTED BY THE TEMPORARY PRESIDENT OF THE SENATE, TWO MEMBERS SHALL BE
APPOINTED BY THE SPEAKER OF THE ASSEMBLY, ONE MEMBER SHALL BE  APPOINTED
BY  THE  MINORITY LEADER OF THE SENATE AND ONE MEMBER SHALL BE APPOINTED
BY THE MINORITY LEADER OF THE ASSEMBLY. OF THE FIVE MEMBERS APPOINTED BY

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

Comments

Open Legislation comments facilitate discussion of New York State legislation. All comments are subject to moderation. Comments deemed off-topic, commercial, campaign-related, self-promotional; or that contain profanity or hate speech; or that link to sites outside of the nysenate.gov domain are not permitted, and will not be published. 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.