Assembly Actions -
Lowercase Senate Actions - UPPERCASE |
|
---|---|
May 24, 2022 |
referred to governmental employees delivered to assembly passed senate |
May 16, 2022 |
advanced to third reading |
May 11, 2022 |
2nd report cal. |
May 10, 2022 |
1st report cal.1261 |
May 05, 2022 |
referred to civil service and pensions |
Senate Bill S9051
2021-2022 Legislative Session
Sponsored By
(D, WF) 31st Senate District
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
Actions
Votes
co-Sponsors
(D, IP) Senate District
2021-S9051 (ACTIVE) - Details
- Current Committee:
- Assembly Governmental Employees
- Law Section:
- Retirement and Social Security Law
- Laws Affected:
- Amd §177, R & SS L
2021-S9051 (ACTIVE) - Sponsor Memo
BILL NUMBER: S9051 SPONSOR: JACKSON TITLE OF BILL: An act to amend the retirement and social security law, in relation to investments by public pension funds in certain guaranteed mortgages PURPOSE: This legislation would amend subdivision 3 of section 177 of the Retire- ment and Social Security Law to add to the types of conventional mort- gages in which a state pension fund may invest to include conventional mortgages guaranteed by New York State Homes and Community Renewal (HCR), any successor thereto, or agency thereof. SUMMARY OF PROVISIONS: Section 1 of this bill amends subdivision 3 of section 177 of the Retirement and Social Security Law to add to the types of conventional mortgages in which a state pension fund may invest.
2021-S9051 (ACTIVE) - Bill Text download pdf
S T A T E O F N E W Y O R K ________________________________________________________________________ 9051 I N S E N A T E May 5, 2022 ___________ Introduced by Sen. JACKSON -- (at request of the State Comptroller) -- read twice and ordered printed, and when printed to be committed to the Committee on Civil Service and Pensions AN ACT to amend the retirement and social security law, in relation to investments by public pension funds in certain guaranteed mortgages THE PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND ASSEM- BLY, DO ENACT AS FOLLOWS: Section 1. Subdivision 3 of section 177 of the retirement and social security law, as added by chapter 817 of the laws of 1960, is amended to read as follows: 3. Conventional mortgages guaranteed by a state bank or trust company having a net worth in excess of five hundred million dollars OR GUARAN- TEED BY NEW YORK STATE HOMES AND COMMUNITY RENEWAL, ANY SUCCESSOR THERE- TO, OR ANY AGENCY THEREOF, provided, however, that not more than ten per centum of the assets of any fund shall be invested in any such mortgage so guaranteed. § 2. This act shall take effect immediately. EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets [ ] is old law to be omitted. LBD15430-01-2
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