New York A 1580: Includes within the class D felony of assault in the second degree, the causation of serious physical injury to another person while in the course of committing hazing in the first degree

Bill Text

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A01580 Summary:

BILL NOA01580 

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SAME ASSAME AS S00954

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SPONSORKelles

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COSPNSRMitaynes, Bichotte Hermelyn, Epstein, Paulin, Gonzalez-Rojas, Carroll R, Simon, Reyes, Lupardo,
 Gallagher, Steck, Rosenthal, Clark, Seawright, Kim, Forrest, Cruz, Jackson, Walker, Zinerman,
 Septimo, Davila, Burdick, Stern, Anderson, Conrad, Jacobson, McMahon, Lunsford, Sayegh, Ramos,
 Colton, Lavine, Glick, Hevesi, Bronson, Burke, Taylor, Otis, Dinowitz, Shrestha, Chandler-Waterman,
 Eachus, Cunningham, Raga, Shimsky, Levenberg, Moreno

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MLTSPNSR

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Add §508-b, Ed L

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Establishes the teachers' fossil fuel divestment act; requires the New York state teachers' retirement system to divest the retirement system of any stocks, securities, equities, assets, or other obligations of corporations or companies included on an exclusion list of coal producers and oil and gas producers.

Go to top A01580 Actions:

BILL NOA01580 

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01/10/2025referred to governmental employees

01/07/2026referred to governmental employees

Go to topA01580 Committee&nbspVotes:

Go to topA01580 Floor&nbspVotes:

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

Go to topA01580 Text:

 STATE OF NEW YORK
 ________________________________________________________________________

 1580

 2025-2026 Regular Sessions

 IN ASSEMBLY

 January 10, 2025
 ___________

 Introduced by M. of A. KELLES, MITAYNES, BICHOTTE HERMELYN, EPSTEIN,
 PAULIN, GONZALEZ-ROJAS, R. CARROLL, SIMON, MAMDANI, REYES, LUPARDO,
 GALLAGHER, STECK, ROSENTHAL, CLARK, SEAWRIGHT, KIM, FORREST, CRUZ,
 JACKSON, WALKER, ZINERMAN, SEPTIMO, DAVILA, BURDICK, STERN, ANDERSON,
 CONRAD, JACOBSON, McMAHON, LUNSFORD, SAYEGH, RAMOS, COLTON, LAVINE,
 GLICK, HEVESI, BRONSON, BURKE, TAYLOR, OTIS, DINOWITZ, SHRESTHA, CHAN-
 DLER-WATERMAN, EACHUS, CUNNINGHAM, RAGA, SHIMSKY, LEVENBERG -- read
 once and referred to the Committee on Governmental Employees

 AN ACT to amend the education law, in relation to requiring the New York
 state teachers' retirement system to divest the retirement system of
 any investments in corporations or companies included on an exclusion
 list of coal producers and oil and gas producers

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

 1 Section 1. This act shall be known and may be cited as the "teachers'
 2 fossil fuel divestment act".
 3 § 2. Legislative findings. 1. a. Climate change is a real and serious
 4 threat to the health, welfare, and prosperity of all New Yorkers, now
 5 and in the future. Maintaining the status quo of fossil fuel energy
 6 production will lead to catastrophic results.
 7 b. In July 2019, New York state passed the climate leadership and
 8 community protection act and committed to reducing statewide greenhouse
 9 gas emissions by eighty-five percent by 2050 and net zero emissions in
 10 all sectors of the economy. Other cities and states have chosen to
 11 pursue similar paths to reduce greenhouse gas emissions.
 12 c. The threat of climate change, and the transformation of the global
 13 energy system that will be necessary to mitigate it, will have a serious
 14 negative impact on investors whose assets are not aligned with the goal
 15 of keeping the global average temperature increase below 1.5 degrees
 16 Celsius, as determined by the United Nations Intergovernmental Panel on
 17 Climate Change.

 EXPLANATION--Matter in italics (underscored) is new; matter in brackets
 [ ] is old law to be omitted.
 LBD01506-01-5

 A. 1580 2

 1 d. There are no existing legal or fiduciary duties that require New
 2 York state's pension funds to invest in energy sources that are harmful
 3 to the environment, or in contradiction to the goals of the climate
 4 leadership and community protection act. Rather, there are alternative
 5 investments that are available to our pension funds that do not present
 6 such harms.
 7 e. Many cities and states have recognized the harmful effects of
 8 pension and investment funds investing in fossil fuels and have commit-
 9 ted to divesting those funds. Over 1,100 institutional investors repres-
 10 enting more than $11 trillion in holdings have chosen to pursue full or
 11 partial divestment from fossil fuel producers, including the New York
 12 city employees retirement system, th