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A 9066

Prohibits the investment of certain public funds with companies owned by elected officials

2025 Regular Session Introduced by Linda Rosenthal

Prohibits investing public funds in companies owned by elected officials.

REFERRED TO GOVERNMENTAL EMPLOYEES
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Bill Summary · A 9066

Bill Summary: A 9066 — Prohibits the investment of certain public funds with companies owned by elected officials

Overview

A 9066 is a bill introduced in the New York Assembly (primary sponsor: Linda Rosenthal) with the stated purpose of preventing certain public funds from being invested in companies owned by elected officials. The bill was introduced on September 5, 2025 and is currently “REFERRED TO GOVERNMENTAL EMPLOYEES,” indicating it has moved to a committee stage for consideration and potential amendments.

What the bill would do

  • Prohibited action: Invest public funds in companies that are owned, in whole or in part, by elected officials.
  • The specific definitions, scope, and exceptions are not provided in the available information. The formal text would define terms such as “public funds” and “companies owned by elected officials,” outline which funds are covered (state, local, pension funds, cash reserves, etc.), and specify any permissible investments, exemptions, or safe harbors.
  • Enforcement, penalties, and compliance requirements are not detailed in the provided information but would typically be addressed in the bill’s text and any accompanying regulations.

Who would be affected

  • Public fund fiduciaries and investment managers responsible for investing government funds.
  • Entities overseeing state or local funds that could be subject to investment constraints.
  • Elected officials who own or are connected to companies that could be considered under the bill’s prohibitions.

Status, timeline, and sponsorship

  • Status: Referred to the Governmental Employees committee (indicating the bill is under committee review).
  • Legislative actions recorded on 2025-09-05 show the referral to Governmental Employees (noted twice in the provided entry).
  • Sponsor: Linda Rosenthal (primary).

Potential impacts and considerations

  • Governance and ethics: The bill aims to reduce potential conflicts of interest by separating public funds from private enterprises controlled by elected officials.
  • Administrative burden: May require new screening, reporting, and compliance processes for public funds and investment managers.
  • Fiscal implications: Depending on definitions and scope, there could be changes in portfolio allocations or opportunities for alternative investments.

Questions readers may have (pending bill text)

  • How is “public funds” defined, and which funds are covered?
  • What constitutes “companies owned by elected officials” (ownership thresholds, related entities, timing)?
  • Are there exemptions or transitional provisions, and what are the penalties for noncompliance?
  • What is the effective date and enforcement mechanism?

This summary reflects the information provided. The bill’s full text will clarify definitions, scope, and operative details.

Compiled from official sources — confirm details with the bill’s official record.

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