S T A T E O F N E W Y O R K
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9414
2025-2026 Regular Sessions
I N A S S E M B L Y
December 19, 2025
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Introduced by M. of A. RAJKUMAR -- read once and referred to the Commit-
tee on Governmental Operations
AN ACT to amend the executive law, in relation to creating a universal
basic stock fund for residents in the state of New York
THE PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND ASSEM-
BLY, DO ENACT AS FOLLOWS:
Section 1. The executive law is amended by adding a new article 45-C
to read as follows:
ARTICLE 45-C
UNIVERSAL BASIC STOCK FUND
SECTION 959. UNIVERSAL BASIC STOCK FUND.
§ 959. UNIVERSAL BASIC STOCK FUND. 1. THERE IS HEREBY ESTABLISHED WITH-
IN THE OFFICE OF THE STATE COMPTROLLER A UNIVERSAL BASIC STOCK FUND
WHICH SHALL PROVIDE A ONE-TIME FIXED AMOUNT OF PRINCIPAL TO EVERY RESI-
DENT AGED EIGHTEEN OR OVER IN THE STATE OF NEW YORK TO INVEST IN A NEW
YORK-BASED PUBLICLY TRADED COMPANY OR FINANCIAL PRODUCTS OF SUCH RESI-
DENT'S CHOOSING.
2. THE STATE COMPTROLLER SHALL DETERMINE THE AMOUNT OF PRINCIPAL
DISTRIBUTED TO EVERY RESIDENT IN THE STATE OF NEW YORK AND ANNUALLY
THEREAFTER TO ACCOUNT FOR RESIDENTS TURNING EIGHTEEN YEARS OLD OR MOVING
INTO THE STATE OF NEW YORK. THE PRINCIPAL SHALL BE THE SAME AMOUNT FOR
EVERY SUCH RESIDENT REGARDLESS OF SUCH RESIDENT'S INCOME. FURTHER, THE
COMPTROLLER SHALL HAVE FIVE YEARS AFTER THE EFFECTIVE DATE OF THIS
SECTION TO DISTRIBUTE THE INITIAL PRINCIPAL TO ALL RESIDENTS IN THE
STATE OF NEW YORK.
3. THE STATE COMPTROLLER, IN CONSULTATION WITH THE DEPARTMENT OF
FINANCIAL SERVICES, SHALL ESTABLISH A LIST OF APPROVED STOCKS OR FINAN-
CIAL PRODUCTS THAT RESIDENTS CAN INVEST IN.
4. EVERY RESIDENT IN THE STATE OF NEW YORK SHALL INVEST SUCH PRINCIPAL
RECEIVED PURSUANT TO SUBDIVISION ONE OF THIS SECTION IN A NEW YORK-BASED
PUBLICLY TRADED COMPANY OR FINANCIAL PRODUCT. AFTER ONE YEAR AND ANNUAL-
EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
[ ] is old law to be omitted.
LBD14176-01-5
A. 9414 2
LY THEREAFTER SUCH RESIDENT SHALL HAVE THE OPTION TO SELL SUCH STOCK OR
INVEST IN ANOTHER NEW YORK-BASED PUBLICLY TRADED COMPANY OR FINANCIAL
PRODUCT. NOTHING IN THIS SECTION SHALL PROHIBIT A RESIDENT FROM INVEST-
ING IN MULTIPLE NEW YORK-BASED PUBLICLY TRADED COMPANIES OR FINANCIAL
PRODUCTS. IF SUCH RESIDENT FAILS TO SELECT AN INVESTMENT WITHIN SIX
MONTHS OF BEING PROVIDED NOTICE OF AVAILABLE PRINCIPAL, THEN SUCH PRIN-
CIPAL SHALL BE INVESTED EXCLUSIVELY IN NEW YORK STATE OR LOCAL BONDS
EXEMPT FROM TAXATION.
5. THE STATE COMPTROLLER SHALL PROVIDE NOTICE, OPTIONS FOR INVESTMENT,
PERIODIC UPDATES ON THE STATUS OF INVESTMENT, AND THE ABILITY TO SELL
SUCH STOCK OR INVEST IN ANOTHER NEW YORK-BASED PUBLICLY TRADED COMPANY
OR FINANCIAL PRODUCT VIA MAIL. FURTHER, THE COMPTROLLER SHALL ALSO
ESTABLISH A PUBLICLY AVAILABLE WEBSITE PORTAL TO ALLOW RESIDENTS TO
MANAGE SUCH INVESTMENTS PROVIDED BY THE STATE OF NEW YORK INCLUDING THE
ABILITY TO VIEW SUCH INVESTMENTS, SELL STOCK OR INVEST IN ANOTHER NEW
YORK-BASED PUBLICLY TRADED COMPANY OR FINANCIAL PRODUCT.
6. THE RESIDENT'S PRINCIPAL SHALL NOT BE PLEDGED OR USED FOR PURPOSES
OTHER THAN THOSE AUTHORIZED PURSUANT TO THIS SECTION.
§ 2. This act shall take effect one year after it shall have become a
law. Effective immediately, the addition, amendment and/or repeal of any
rule or regulation necessary for the implementation of this act on its
effective date are authorized to be made and completed on or before such
date.