Bill
S 6063
Overview: S 6063, Prohibits the investment of certain public funds with the Trump organization, REFERRED TO CIVIL SERVICE AND PENSIONS, Introduced: March 05, 2025Purpose and Intent
Overview: S 6063, Prohibits the investment of certain public funds with the Trump organization, REFERRED TO CIVIL SERVICE AND PENSIONS, Introduced: March 05, 2025
Purpose and Intent: This bill aims to prohibit the investment of certain public funds, such as state pension funds, with the Trump Organization and its affiliates. The rationale is to prevent the use of taxpayer money to financially benefit the former president's business interests.
Key Provisions:
- Prohibits the investment of any public pension funds, including the New York State Common Retirement Fund, in the Trump Organization or its subsidiaries.
- Requires the state comptroller to divest any existing investments in the Trump Organization within 180 days of the bill's enactment.
- Imposes penalties for violations, including fines and potential removal from office for public officials who knowingly invest in the prohibited entities.
Affected Parties and Impacts:
- The Trump Organization and its subsidiaries would be barred from receiving investments from New York state public pension funds.
- Public pension fund managers and state officials would be required to comply with the divestment and investment prohibition provisions.
- Taxpayers and pension fund beneficiaries may benefit from the reduced financial exposure to the former president's business interests.
Procedural and Timeline Considerations:
The bill has been referred to the Civil Service and Pensions Committee for further consideration. If passed by the legislature, it would require the state comptroller to divest any existing prohibited investments within 180 days of the bill's enactment.
Compiled from official sources — confirm details with the bill’s official record.
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