Bill > S06063

This bill amends the retirement and social security law to prohibit investments of public funds in the Trump organization or its subsidiaries. Specifically, the bill prevents the common retirement fund from investing in stocks, securities, or other obligations of companies doing business with the Trump organization. The comptroller is required to take action to sell, redeem, divest, or withdraw any existing investments in such entities, with a three-year window to complete these divestments. The bill mandates that the comptroller file a report within 60 days of the law's effective date detailing all existing investments that violate the new restrictions, and subsequently provide annual reports describing the progress of divestment efforts. The legislation aims to ensure that public pension and annuity funds are not financially connected to the Trump organization, with the provision allowing for prudent and time-managed divestment to minimize potential financial disruption. The bill takes effect immediately upon passage.

Labor and Employment

https://www.nysenate.gov/legislation/bills/2025/S6063