New York S 3697: Relates to restricting use of campaign funds at a business owned by a candidate or the candidate's family

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 Speaker Carl E. Heastie

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S03697 Summary:

BILL NOS03697A

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SAME ASNo Same As

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SPONSORSANDERS

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COSPNSR

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MLTSPNSR

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Add Art 77 §§77-0101 - 77-0102, En Con L; add §99-ss, St Fin L

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Requires reporting of climate-related financial risk by certain entities; defines climate-related financial risk to mean material harm to financial outcomes of the entity due to physical and transition risks.

Go to top S03697 Actions:

BILL NOS03697A

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01/29/2025REFERRED TO ENVIRONMENTAL CONSERVATION

05/06/2025AMEND (T) AND RECOMMIT TO ENVIRONMENTAL CONSERVATION

05/06/2025PRINT NUMBER 3697A

05/13/2025REPORTED AND COMMITTED TO FINANCE

01/07/2026REFERRED TO ENVIRONMENTAL CONSERVATION

03/10/2026REPORTED AND COMMITTED TO FINANCE

Go to topS03697 Committee&nbspVotes:

Go to topS03697 Floor&nbspVotes:

There are no Assembly votes for this bill in this legislative session.

Go to topS03697 Text:

 STATE OF NEW YORK
 ________________________________________________________________________

 3697--A

 2025-2026 Regular Sessions

 IN SENATE

 January 29, 2025
 ___________

 Introduced by Sen. SANDERS -- read twice and ordered printed, and when
 printed to be committed to the Committee on Environmental Conservation
 -- committee discharged, bill amended, ordered reprinted as amended
 and recommitted to said committee

 AN ACT to amend the environmental conservation law and the state finance
 law, in relation to reporting of climate-related financial risk and
 establishing the climate-related financial risk disclosure fund

 The People of the State of New York, represented in Senate and Assem-
 bly, do enact as follows:

 1 Section 1. The environmental conservation law is amended by adding a
 2 new article 77 to read as follows:
 3 ARTICLE 77
 4 CLIMATE-RELATED FINANCIAL RISK
 5 Section 77-0101. Definitions.
 6 77-0102. Climate-related financial risk reporting.
 7 § 77-0101. Definitions.
 8 For purposes of this section, the following definitions apply:
 9 1. "Climate reporting organization" means a nonprofit climate report-
 10 ing organization contracted by the department pursuant to subdivision
 11 three of section 77-0102 of this article that both:
 12 a. currently operates a climate reporting organization for organiza-
 13 tions operating in the United States; and
 14 b. has experience with climate-related financial risk disclosure by
 15 entities operating in New York.
 16 2. "Climate-related financial risk" means material risk of harm to
 17 immediate and long-term financial outcomes due to physical and transi-
 18 tion risks, including, but not limited to, risks to corporate oper-
 19 ations, provision of goods and services, supply chains, employee health
 20 and safety, capital and financial investments, institutional invest-
 21 ments, financial standing of loan recipients and borrowers, shareholder
 22 value, consumer demand, and financial markets and economic health.

 EXPLANATION--Matter in italics (underscored) is new; matter in brackets
 [ ] is old law to be omitted.
 LBD07990-02-5

 S. 3697--A 2

 1 3. "Climate-related financial risk report" means a report required by
 2 subdivision two of this section.
 3 4. "Covered entity" means a corporation, partnership, limited liabil-
 4 ity company, or other business entity formed under the laws of the
 5 state, the laws of any other state of the United States or the District
 6 of Columbia, or under an act of the Congress of the United States with
 7 total annual revenues in excess of five hundred million United States
 8 dollars ($500,000,000) and that does business in New York. Applicability
 9 shall be determined based on the business entity's revenue for the prior
 10 fiscal year. "Covered entity" does not include a business entity that is
 11 subject to regulation by the department of financial services, or that
 12 is in the business of insurance in any other state.
 13 § 77-0102. Climate-related financial risk reporting.
 14 1. a. On or before January first, two thousand twenty-eight, and bien-
 15 nially thereafter, a covered entity shall prepare a climate-related
 16 financial risk report disclosing both of the following:
 17 (i) its climate-related financial risk, in accordance with the recom-
 18 mended framework and disclosures contained in the Final Report of Recom-
 19 mendations of the Task For