Assembly Bill A10404

2017-2018 Legislative Session

Enacts the "firearms and tobacco divestment act"

download bill text pdf

Sponsored By

Archive: Last 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

Do you support this bill?

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

2017-A10404 (ACTIVE) - Details

Current Committee:
Assembly Governmental Employees
Law Section:
Retirement and Social Security Law
Laws Affected:
Amd §423, R & SS L
Versions Introduced in 2019-2020 Legislative Session:
A2035

2017-A10404 (ACTIVE) - Summary

Enacts the "firearms and tobacco divestment act"; requires the comptroller to divest from firearm and tobacco product manufacturers.

2017-A10404 (ACTIVE) - Bill Text download pdf

                            
 
                     S T A T E   O F   N E W   Y O R K
 ________________________________________________________________________
 
                                   10404
 
                           I N  A S S E M B L Y
 
                              April 19, 2018
                                ___________
 
 Introduced  by M. of A. ORTIZ -- read once and referred to the Committee
   on Governmental Employees
 
 AN ACT to amend the retirement and social security law, in  relation  to
   enacting the "firearms and tobacco divestment act"
 
   THE  PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND ASSEM-
 BLY, DO ENACT AS FOLLOWS:

   Section 1. This act shall be known and may be cited as  the  "firearms
 and tobacco divestment act".
   § 2. Section 423 of the retirement and social security law, as amended
 by chapter 770 of the laws of 1970, is amended to read as follows:
   §  423.  Investments.    [a.]  1.  On  and after April first, nineteen
 hundred sixty-seven, the comptroller shall invest the  available  monies
 of  the common retirement fund in any investments and securities author-
 ized by law for each retirement system and shall hold  such  investments
 in his name as trustee of such fund, notwithstanding any other provision
 of  this  chapter.  Participating interests in such investments shall be
 credited to each retirement system in the manner and at the time  speci-
 fied  in  [paragraph] SUBDIVISION two of section four hundred twenty-two
 of this article.
   [b.] 2. (A) To assist in the management of the monies  of  the  common
 retirement  fund,  the  comptroller shall appoint an investment advisory
 committee consisting of not less than seven members who shall serve  for
 his  term of office. A vacancy occurring from any cause other than expi-
 ration of term shall be filled by the comptroller for the  remainder  of
 the term. Each member of the committee shall be experienced in the field
 of  investments  and shall have served, or shall be serving, as a senior
 officer or member of the board of an insurance company,  banking  corpo-
 ration  or  other  financial or investment organization authorized to do
 business in the state of New York. The committee shall advise the  comp-
 troller  on  investment  policies  relating  to the monies of the common
 retirement fund and shall review, from  time  to  time,  the  investment
 portfolio  of  the  fund  and make such recommendations as may be deemed
 necessary.
 
  EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                       [ ] is old law to be omitted.
              

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.