BILL NUMBER: S328
SPONSOR: BAILEY
 
TITLE OF BILL:
An act to amend the state finance law, in relation to purchasing
restrictions on persons that contract to build a border wall; to amend
the retirement and social security law, in relation to the investment of
certain public funds in persons that contract to build a border wall;
and providing for the repeal of such provisions upon expiration thereof
 
PURPOSE:
To bar companies working on the construction of the border wall from
contracting with any businesses or investing in any public funds or
assets within New York State.
 
SUMMARY OF PROVISIONS:
Section 1 of the bill amends the state finance law by adding new section
165b, which defines "purchasing restrictions" and provides that a list
of persons contracting to build a border wall be compiled and made
public.
Section 2 of the bill amends the retirement and social security law by
adding new section 423-d, which provides that no assets of any pension
or annuity fund under the jurisdiction of the comptroller shall further
be invested in any bank or financial institution which directly, or
through a parent or subsidiary, contracts to build a border wall, and no
such assets shall otherwise be invested in the stocks, securities or
other obligations of any person that directly, or through a parent or
subsidiary entity, contracts to build a border wall.
Section 3 of the bill sets forth the effective date.
 
JUSTIFICATION:
This bill is being introduced in response to the recent executive action
ordering the construction of a southern border wall between the United
States and Mexico, which will cover about 1,000 miles at the expense of
taxpayers. In New York, we pride ourselves on diversity, and this bill
is one of the many efforts at the local level to push back against divi-
sive actions that are a stark departure from New York's cores values.
This bill mirrors legislation introduced in Illinois and is similar to
measures taken in New York State to divest from companies that do busi-
ness in or with Iran.
Passage of this bill would allow New York State to track any businesses
involved with the construction of the border wall and prohibit them from
obtaining in-state contracts and assets. Serving as a voice for immi-
grant communities and safeguarding their rights honors our history of
welcoming people and refugees seeking greater opportunities for their
families. This bill is a significant step in standing up against any
hateful, anti-immigrant rhetoric.
 
FISCAL IMPLICATIONS:
To be determined.
 
PRIOR LEGISLATIVE HISTORY:
2017-18: S5405 - Referred to Finance
2019-20: S2188 - Referred to Finance
2021-22: S3316 - Referred to Procurement and Contracts
2023-24: S1091 - Referred to Procurement and Contracts
 
EFFECTIVE DATE:
This act shall take effect immediately and shall expire and be deemed
repealed January 20, 2029.