Assembly Actions - Lowercase Senate Actions - UPPERCASE |
|
---|---|
Jan 05, 2022 | referred to civil service and pensions |
Apr 26, 2021 | print number 4783a |
Apr 26, 2021 | amend and recommit to civil service and pensions |
Apr 13, 2021 | committee discharged and committed to civil service and pensions |
Feb 12, 2021 | referred to higher education |
senate Bill S4783A
Sponsored By
Jabari Brisport
(D, WF) 25th Senate District
Archive: Last Bill Status - In Senate Committee Civil Service And Pensions Committee
- Introduced
- In Committee
- On Floor Calendar
- Passed Senate
- Passed Assembly
- Delivered to Governor
- Signed/Vetoed by Governor
Your Voice
Actions
Bill Amendments
Co-Sponsors
Joseph P. Addabbo Jr
(D) 15th Senate District
Brian A. Benjamin
(D) 0 Senate District
Samra G. Brouk
(D, WF) 55th Senate District
Leroy Comrie
(D) 14th Senate District
S4783 - Details
- See Assembly Version of this Bill:
- A6331
- Current Committee:
- Senate Civil Service And Pensions
- Law Section:
- Education Law
- Laws Affected:
- Add §508-b, Ed L
- Versions Introduced in 2023-2024 Legislative Session:
-
S899, A1101
S4783 - Summary
Establishes the teachers' fossil fuel divestment act; requires the New York state teachers' retirement system to divest the retirement system of any stocks, securities, equities, assets, or other obligations of corporations or companies included on an exclusion list of coal producers and oil and gas producers.
S4783 - Sponsor Memo
BILL NUMBER: S4783 SPONSOR: BRISPORT TITLE OF BILL: An act to amend the education law, in relation to requiring the New York state teachers' retirement system to divest the retirement system of any investments in corporations or companies included on an exclusion list of coal producers and oil and gas producers SUMMARY OF PROVISIONS: Section 1 sets forth the legislative findings. Section 2 defines the legislation as the "Teachers' Fossil Fuel Divest- ment Act." Section 3 amends the education law, and sets forth the criteria for the New York State Teachers' Retirement System to divest from fossil fuels. JUSTIFICATION:
S4783 - Bill Text download pdf
S T A T E O F N E W Y O R K ________________________________________________________________________ 4783 2021-2022 Regular Sessions I N S E N A T E February 12, 2021 ___________ Introduced by Sen. BRISPORT -- read twice and ordered printed, and when printed to be committed to the Committee on Higher Education AN ACT to amend the education law, in relation to requiring the New York state teachers' retirement system to divest the retirement system of any investments in corporations or companies included on an exclusion list of coal producers and oil and gas producers 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 "teachers' fossil fuel divestment act". § 2. Legislative findings. 1. a. Climate change is a real and serious threat to the health, welfare, and prosperity of all New Yorkers, now and in the future. Maintaining the status quo of fossil fuel energy production will lead to catastrophic results. b. In July 2019, New York state passed the climate leadership and community protection act and committed to reducing statewide greenhouse gas emissions by eighty-five percent by 2050 and net zero emissions in all sectors of the economy. Other cities and states have chosen to pursue similar paths to reduce greenhouse gas emissions. c. The threat of climate change, and the transformation of the global energy system that will be necessary to mitigate it, will have a serious negative impact on investors whose assets are not aligned with the goal of keeping the global average temperature increase below 1.5 degrees Celsius, as determined by the United Nations Intergovernmental Panel on Climate Change. d. There are no existing legal or fiduciary duties that require New York state's pension funds to invest in energy sources that are harmful to the environment, or in contradiction to the goals of the climate leadership and community protection act. Rather, there are alternative investments that are available to our pension funds that do not present such harms. EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets [ ] is old law to be omitted.
Co-Sponsors
Joseph P. Addabbo Jr
(D) 15th Senate District
Jamaal T. Bailey
(D) 36th Senate District
Alessandra Biaggi
(D, WF) 0 Senate District
Samra G. Brouk
(D, WF) 55th Senate District
S4783A (ACTIVE) - Details
- See Assembly Version of this Bill:
- A6331
- Current Committee:
- Senate Civil Service And Pensions
- Law Section:
- Education Law
- Laws Affected:
- Add §508-b, Ed L
- Versions Introduced in 2023-2024 Legislative Session:
-
S899, A1101
S4783A (ACTIVE) - Summary
Establishes the teachers' fossil fuel divestment act; requires the New York state teachers' retirement system to divest the retirement system of any stocks, securities, equities, assets, or other obligations of corporations or companies included on an exclusion list of coal producers and oil and gas producers.
S4783A (ACTIVE) - Sponsor Memo
BILL NUMBER: S4783A SPONSOR: BRISPORT TITLE OF BILL: An act to amend the education law, in relation to requiring the New York state teachers' retirement system to divest the retirement system of any investments in corporations or companies included on an exclusion list of coal producers and oil and gas producers SUMMARY OF PROVISIONS: Section 1 sets forth the legislative findings. Section 2 defines the legislation as the "Teachers' Fossil Fuel Divest- ment Act." Section 3 amends the education law, and sets forth the criteria for the New York State Teachers' Retirement System to divest from fossil fuels. JUSTIFICATION:
S4783A (ACTIVE) - Bill Text download pdf
S T A T E O F N E W Y O R K ________________________________________________________________________ 4783--A 2021-2022 Regular Sessions I N S E N A T E February 12, 2021 ___________ Introduced by Sens. BRISPORT, ADDABBO, BENJAMIN, BROUK, COMRIE, COONEY, GIANARIS, HOYLMAN, JACKSON, KRUEGER, MAY, RAMOS, REICHLIN-MELNICK, RIVERA, SALAZAR, SEPULVEDA, SERRANO -- read twice and ordered printed, and when printed to be committed to the Committee on Higher Education -- committee discharged and said bill committed to the Committee on Civil Service and Pensions -- committee discharged, bill amended, ordered reprinted as amended and recommitted to said committee AN ACT to amend the education law, in relation to requiring the New York state teachers' retirement system to divest the retirement system of any investments in corporations or companies included on an exclusion list of coal producers and oil and gas producers 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 "teachers' fossil fuel divestment act". § 2. Legislative findings. 1. a. Climate change is a real and serious threat to the health, welfare, and prosperity of all New Yorkers, now and in the future. Maintaining the status quo of fossil fuel energy production will lead to catastrophic results. b. In July 2019, New York state passed the climate leadership and community protection act and committed to reducing statewide greenhouse gas emissions by eighty-five percent by 2050 and net zero emissions in all sectors of the economy. Other cities and states have chosen to pursue similar paths to reduce greenhouse gas emissions. c. The threat of climate change, and the transformation of the global energy system that will be necessary to mitigate it, will have a serious negative impact on investors whose assets are not aligned with the goal of keeping the global average temperature increase below 1.5 degrees Celsius, as determined by the United Nations Intergovernmental Panel on Climate Change. EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets [ ] is old law to be omitted. LBD09701-02-1
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