Bill > S08020

This bill, titled the "New York State Agency BIPOC Asset Management and Financial Institution Strategy Act," aims to promote equity and inclusion within New York's state and city pension systems by mandating specific investment allocations. BIPOC stands for Black, Indigenous, and People of Color. Part A of the bill requires public pension funds in New York State to set objectives for increasing the utilization of BIPOC investment management firms, with specific minimum percentages of total, active, equity, fixed income, and alternative assets to be invested with BIPOC investment managers. These funds must establish compliance mechanisms, report annually on their progress, and develop public outreach and educational programs to support BIPOC-owned businesses. Part B of the bill, the "New York State Investment Transparency Act," requires venture capital companies that invest in or manage assets for New York entities to report data on the diversity of the founding teams of the businesses they invest in, including gender, race, ethnicity, disability status, veteran status, and residency. This reporting is intended to provide transparency and encourage investment in businesses with diverse leadership.

Labor and Employment

https://www.nysenate.gov/legislation/bills/2025/S8020