Bill > S06464

This bill amends the New York State finance law to update the investment standards for the New York State college choice tuition savings program and the New York achieving a better life experience (ABLE) savings account program. Specifically, it requires the comptroller, as trustee, to invest the assets of these trust funds with the care, skill, prudence and diligence that a prudent person would use in managing similar investments, rather than the previous more restrictive investment criteria. This change provides the comptroller with more flexibility in managing the investments of these programs.