A5471 (2025-26 session)
NY State bill
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).
- Title
- Relates to equitable investment practices
- Type
- New York State Assembly bill
- Session
- 2025-26 session
- Status
- In Assembly Committee
- Latest action date
- 2026-01-07
- In committee
- Governmental Employees
- Introduced
- 2025-02-14
- Active version
- A5471B
- Same as
- S8020
- Law section
- Retirement and Social Security Law
Sponsors
- George Alvarez Assembly Member, District 78
Co-sponsors
- Al Taylor Assembly Member, District 71
- Alicia Hyndman Assembly Member, District 29
- Catalina Cruz Assembly Member, District 39
- Chantel Jackson Assembly Member, District 79
Heard in committee
- Governmental Employees NY State Assembly committee
Same as
- S8020 (2025-26 session) NY State bill