New York bills · 2025 Regular Session
New York A 5471
Relates to equitable investment practices
- Introduced
- In committee
- Passed House
- Passed Senate
- To Governor
- Became law
Sponsors
- George Alvarez (Democratic)
Cosponsors (14)
- Landon C. Dais (Democratic)
- Alicia Hyndman (Democratic)
- Karines Reyes (Democratic)
- Rodneyse Bichotte Hermelyn (Democratic)
- Yudelka Tapia (Democratic)
- Manny De Los Santos (Democratic)
- Chantel Jackson (Democratic)
- Jordan Wright (Democratic)
- Al Taylor (Democratic)
- Catalina Cruz (Democratic)
- Steven Raga (Democratic)
- Noah Burroughs (Democratic/Working Families)
- Demond Meeks (Democratic/Working Families)
- Grace Lee (Democratic)
Summary
Official abstract published by the New York legislature
Enacts the "New York state agency BIPOC asset management and financial institution strategy act" to ensure the promotion of equity, diversity, and inclusion within the state pension system and the New York city pension system's investments by mandating a minimum allocation of assets to BIPOC asset managers, BIPOC financial institutions, and BIPOC financial or professional service firms; addresses disparities in investment opportunities and fosters economic growth within BIPOC communities, aligning with best practices in investment management and bolstering the financial well-being of New York City and state and residents thereof (Part A); relates to fair investment practices by investment advisers within the state of New York (Part B).
Text versions
Roll-call votes
No recorded votes on this bill.
Actions
- Jan 7, 2026 · House
REFERRED TO GOVERNMENTAL EMPLOYEES - Nov 19, 2025 · House
PRINT NUMBER 5471B - Nov 19, 2025 · House
AMEND AND RECOMMIT TO GOVERNMENTAL EMPLOYEES - Apr 22, 2025 · House
PRINT NUMBER 5471A - Apr 22, 2025 · House
AMEND AND RECOMMIT TO GOVERNMENTAL EMPLOYEES - Feb 14, 2025 · House
REFERRED TO GOVERNMENTAL EMPLOYEES