New York A09066 prohibits public funds from being invested in companies owned by elected officials.

New York A09066 amends the retirement and social security law to prohibit the investment of public funds in companies owned by elected officials. Specifically, it bans investments in companies where elected officials hold a majority stake, either individually or collectively. The bill also mandates that the comptroller take action to divest from such companies within a year and report annually on compliance. This measure aims to prevent potential conflicts of interest and ensure ethical investment practices.

New York A09066 prohibits public funds from being invested in companies owned by elected officials.

New York A09066 amends the retirement and social security law to prohibit the investment of public funds in companies owned by elected officials. Specifically, it bans investments in companies where elected officials hold a majority stake, either individually or collectively. The bill also mandates that the comptroller take action to divest from such companies within a year and report annually on compliance. This measure aims to prevent potential conflicts of interest and ensure ethical investment practices.