New York A 9414: Creates a universal stock fund which provides residents the ability to invest in New York state

Bill Text

Bill Search and Legislative Information | New York State Assembly 

• 

• 

• 

• 

• 

• 

• 

• 

 Skip to main content 

 New York State Assembly

 Speaker Carl E. Heastie

 --> 
 --> 

 --> 

• 
 Assembly Members 

• 
 Legislative Info 

• 
 Public Hearings 

• 
 Speaker's Press 

• 
 Assembly Reports 

• 
 Committees & More 

• Bill Search Home
• Laws
• Legislative Calendar
• Public Hearing Schedule
• Assembly Calendars
• Assembly Committee Agenda 

 Javascript must be enabled to properly view this page. 

 Bill No.: 

• Summary 
• Actions 
• Committee&nbspVotes 
• Floor&nbspVotes 
• Memo 
• Text 
• LFIN 
• Chamber&nbspVideo/Transcript 
A09414 Summary:

BILL NOA09414 

&nbsp

SAME ASNo Same As

&nbsp

SPONSORRajkumar

&nbsp

COSPNSR

&nbsp

MLTSPNSR

&nbsp

Add Art 45-C §959, Exec L

&nbsp

Creates a universal stock fund which provides residents the ability to invest in New York state upon turning eighteen years old or moving into the state.

Go to top A09414 Actions:

BILL NOA09414 

&nbsp

12/19/2025referred to governmental operations

01/07/2026referred to governmental operations

Go to topA09414 Committee&nbspVotes:

Go to topA09414 Floor&nbspVotes:

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

Go to topA09414 Text:

 STATE OF NEW YORK
 ________________________________________________________________________

 9414

 2025-2026 Regular Sessions

 IN ASSEMBLY

 December 19, 2025
 ___________

 Introduced by M. of A. RAJKUMAR -- read once and referred to the Commit-
 tee on Governmental Operations

 AN ACT to amend the executive law, in relation to creating a universal
 basic stock fund for residents in the state of New York

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

 1 Section 1. The executive law is amended by adding a new article 45-C
 2 to read as follows:
 3 ARTICLE 45-C
 4 UNIVERSAL BASIC STOCK FUND
 5 Section 959. Universal basic stock fund.
 6 § 959. Universal basic stock fund. 1. There is hereby established with-
 7 in the office of the state comptroller a universal basic stock fund
 8 which shall provide a one-time fixed amount of principal to every resi-
 9 dent aged eighteen or over in the state of New York to invest in a New
 10 York-based publicly traded company or financial products of such resi-
 11 dent's choosing.
 12 2. The state comptroller shall determine the amount of principal
 13 distributed to every resident in the state of New York and annually
 14 thereafter to account for residents turning eighteen years old or moving
 15 into the state of New York. The principal shall be the same amount for
 16 every such resident regardless of such resident's income. Further, the
 17 comptroller shall have five years after the effective date of this
 18 section to distribute the initial principal to all residents in the
 19 state of New York.
 20 3. The state comptroller, in consultation with the department of
 21 financial services, shall establish a list of approved stocks or finan-
 22 cial products that residents can invest in.
 23 4. Every resident in the state of New York shall invest such principal
 24 received pursuant to subdivision one of this section in a New York-based
 25 publicly traded company or financial product. After one year and annual-

 EXPLANATION--Matter in italics (underscored) is new; matter in brackets
 [ ] is old law to be omitted.
 LBD14176-01-5

 A. 9414 2

 1 ly thereafter such resident shall have the option to sell such stock or
 2 invest in another New York-based publicly traded company or financial
 3 product. Nothing in this section shall prohibit a resident from invest-
 4 ing in multiple New York-based publicly traded companies or financial
 5 products. If such resident fails to select an investment within six
 6 months of being provided notice of available principal, then such prin-
 7 cipal shall be invested exclusively in New York state or local bonds
 8 exempt from taxation.
 9 5. The state comptroller shall provide notice, options for investment,
 10 periodic updates on the status of investment, and the ability to sell
 11 such stock or invest in another New York-based publicly traded company
 12 or financial product via mail. Further, the comptroller shall also
 13 establish a publicly available website portal to allow residents to
 14 manage such investments provided by the state of New York including the
 15 ability to view such investments, sell stock or invest in another New
 16 York-based publicly traded company or financial product.
 17 6. The resident's principal shall not be pledged or used for purposes
 18 other than those authorized pursuant to this section.
 19 § 2. This act shall take effect one year after it shall have become a
 20 law. Effective immediately, the addition, amendment and/or repeal of any
 21 rule or regulation necessary for the implementation of this act on its
 22 effective date are authorized to be made and completed on or befor