S08020Introduced in the Senate
Enacts the "New York state agency BIPOC asset management and financial institution strategy act" to ensure the promotion of equity, diversity, and inclusion within the state pension system and the New York city pension system's investments by mandating a minimum allocation of assets to BIPOC asset managers, BIPOC financial institutions, and BIPOC financial or professional service firms; addresses disparities in investment opportunities and fosters economic growth within BIPOC communities, aligning with best practices in investment management and bolstering the financial well-being of New York City and state and residents thereof (Part A); relates to fair investment practices by investment advisers within the state of New York (Part B).
Introduced by Leroy Comrie, District 14
What does this bill do?
Plain-English breakdown
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Official description
Enacts the "New York state agency BIPOC asset management and financial institution strategy act" to ensure the promotion of equity, diversity, and inclusion within the state pension system and the New York city pension system's investments by mandating a minimum allocation of assets to BIPOC asset managers, BIPOC financial institutions, and BIPOC financial or professional service firms; addresses disparities in investment opportunities and fosters economic growth within BIPOC communities, aligning with best practices in investment management and bolstering the financial well-being of New York City and state and residents thereof (Part A); relates to fair investment practices by investment advisers within the state of New York (Part B).
Where it stands
PRINT NUMBER 8020A
January 8, 2026
How did lawmakers vote?
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What do people think?
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Bill history
REFERRED TO CIVIL SERVICE AND PENSIONS
REFERRED TO CIVIL SERVICE AND PENSIONS
AMEND (T) AND RECOMMIT TO CIVIL SERVICE AND PENSIONS
PRINT NUMBER 8020A
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