A 9414: 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.

  
  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 before such 23 date.