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Bill > S04783
NY S04783
NY S04783Establishes the teachers' fossil fuel divestment act; requires the New York state teachers' retirement system to divest the retirement system of any stocks, securities, equities, assets, or other obligations of corporations or companies included on an exclusion list of coal producers and oil and gas producers.
summary
Introduced
02/12/2021
02/12/2021
In Committee
01/05/2022
01/05/2022
Crossed Over
Passed
Dead
12/31/2022
12/31/2022
Introduced Session
2021-2022 General Assembly
Bill Summary
Establishes the teachers' fossil fuel divestment act; requires the New York state teachers' retirement system to divest the retirement system of any stocks, securities, equities, assets, or other obligations of corporations or companies included on an exclusion list of coal producers and oil and gas producers.
AI Summary
This bill establishes the "teachers' fossil fuel divestment act", which requires the New York State Teachers' Retirement System to divest from stocks, securities, equities, assets, or other obligations of corporations or companies included on an exclusion list of coal producers and oil and gas producers. The bill provides definitions for key terms like "coal producer" and "oil and gas producer", and outlines the process for creating and updating the exclusion list. The bill also addresses compliance with fiduciary duties, limitations on indirect investments, and reporting requirements to ensure transparency around the divestment process.
Committee Categories
Education, Labor and Employment
Sponsors (26)
Jabari Brisport (D)*,
Joe Addabbo (D),
Jamaal Bailey (D),
Alessandra Biaggi (D),
Samra Brouk (D),
Cordell Cleare (D),
Leroy Comrie (D),
Jeremy Cooney (D),
Michael Gianaris (D),
Pete Harckham (D),
Michelle Hinchey (D),
Brad Hoylman (D),
Robert Jackson (D),
Liz Krueger (D),
Rachel May (D),
Shelley Mayer (D),
Zellnor Myrie (D),
Kevin Parker (D),
Jessica Ramos (D),
Elijah Reichlin-Melnick (D),
Gustavo Rivera (D),
Julia Salazar (D),
James Sanders (D),
Luis Sepúlveda (D),
Jose Serrano (D),
James Skoufis (D),
Last Action
REFERRED TO CIVIL SERVICE AND PENSIONS (on 01/05/2022)
Official Document
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