Bill > S01379

This bill modifies the Arts and Cultural Affairs Law to require the Natural Heritage Trust to invest its funds according to the Prudent Investor Act, which is a legal standard that guides investment decisions to maximize returns while managing risk responsibly. The bill also expands the list of recipients for the trust's annual report by adding the chairpersons of the Senate Cultural Affairs, Tourism, Parks and Recreation Committee and the Assembly Tourism, Parks, Arts and Sports Development Committee to the existing reporting requirements. Specifically, the trust must now submit a detailed report within 90 days after its fiscal year-end to these additional committee chairpersons, in addition to the existing recipients like the governor, senate finance committee, assembly ways and means committee, and state comptroller. The report must comprehensively cover the trust's operations, accomplishments, financial transactions, and balance sheet. The bill would take effect immediately upon becoming law.

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https://www.nysenate.gov/legislation/bills/2025/S1379