Office of the New York State Comptroller DiNapoli - This Week: State Pension Fund Valued at $309.7 Billion

 

State Pension Fund Valued at $309.7 Billion

Comptroller DiNapoli announced that the estimated value of the New York State Common Retirement Fund was $309.7 billion at the end of the first quarter of State Fiscal Year 2026-27, with Fund investments returning an estimated 6.12% for the quarter.

Comptroller DiNapoli noted the Fund returned another strong quarter despite several factors including persistent inflation, higher energy prices, and ongoing geopolitical conflicts. The Fund’s disciplined investment strategy is focused on diversification, responsible risk management, and long-term stability, to achieve the Fund’s purpose of protecting the retirement security of New York’s public workers, retirees, and their families.

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MTA Unlikely to Meet 2040 Target for 100% Zero-Emission Bus Fleet

According to an audit released by Comptroller DiNapoli, the Metropolitan Transportation Authority (MTA) is unlikely to meet its 2040 target for replacing its 5,800-bus fleet with zero-emission buses. The audit identified multiple challenges that have put the 2040 target in jeopardy, and in response to the audit the MTA announced steps to address those issues.

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Growing Number of Local Governments Reporting Plans To Override Property Tax Cap

With many local governments under fiscal pressure, more local governments and school districts have in recent years reported to the Office of the New York State Comptroller that they plan to override the property tax cap, according to a report released by Comptroller DiNapoli. While a planned override suggests that local officials may be concerned about a potential budget shortfall, it does not necessarily mean that they will exceed the cap for that year. Comptroller DiNapoli urged local officials to communicate with the public and be transparent about their fiscal challenges and plans for addressing them.

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Adult-Use Cannabis Tax Revenue Update

All counties and New York City are eligible to receive adult-use cannabis tax revenue from the sale of adult-use cannabis products sold within their jurisdiction. Between April and June of this year, the Office of the State Comptroller distributed $17.6 million in adult-use cannabis tax revenue to New York’s counties and New York City. To promote transparency and accountability, Comptroller DiNapoli’s office maintains an interactive map, which tracks these revenues by region and the number of dispensaries by county.

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A L S O  I N  T H E  N E W S

• Comptroller DiNapoli’s office found the state DEC lacks reliable information on how much material is recycled across the state
• Audit shows MTA way behind on electric bus plan in latest blow to NY's clean energy switch
• MTA risks falling short of its 2040 zero-emission bus fleet goal, state comptroller audit finds
• Taxing the limit: Property tax cap overrides up across New York, DiNapoli says
• New York pension fund reaches $309.7 billion after 6.12% quarterly return

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P O S T   O F   T H E   W E E K

Attorney General James’ Office of Special Investigation Releases Report on Death of Nancy Loftus

New York Attorney General Letitia James’ Office of Special Investigation (OSI) released its report on the death of Nancy Loftus, who died on April 12, 2025 following an encounter with members of the New York State Police (NYSP) in Orange County. After a thorough investigation, which included interviews with involved officers and a civilian witness, review of a 911 call and footage from officers’ body-worn cameras (BWC), and comprehensive legal analysis, OSI determined that a prosecutor would not be able to disprove beyond a reasonable doubt at trial that the officers’ actions were justified under New York law.

Shortly before 2:30 a.m. on April 12, two NYSP troopers responded to a mobile home in Deerpark following a 911 call reporting an assault with a knife. Upon arrival, the officers encountered the 911 caller in the driveway with a laceration to his abdomen. The 911 caller told the troopers that Ms. Loftus had a gun and was waving it around. Ms. Loftus then came outside the house with what appeared to be a gun in her hand. The troopers repeatedly instructed Ms. Loftus to drop the gun and put her hands in the air. Ms. Loftus did not comply, and both troopers discharged their service weapons. The troopers stopped firing when it seemed as if Ms. Loftus had lowered the gun. The troopers told OSI that Ms. Loftus then raised the gun again, and the officers discharged their service weapons, striking Ms. Loftus. She was taken to a local hospital, where she was pronounced dead. Troopers recovered a pellet gun at the scene.

Under New York’s justification law, a police officer may use deadly physical force when the officer reasonably believes it to be necessary to defend against the use of deadly physical force by another. In this case, the troopers were responding to a 911 call for a domestic incident where the caller said Ms. Loftus had stabbed him with a knife. When the troopers responded to the residence, they encountered the 911 caller, who informed them Ms. Loftus had a gun. Ms. Loftus came out of the house with what appeared to be a gun and ignored repeated commands to drop it. Under these circumstances, given the law and the evidence, a prosecutor would not be able to disprove beyond a reasonable doubt at trial that the officers’ use of deadly physical force against Ms. Loftus was justified, and therefore OSI determined that criminal charges would not be pursued in this matter. 

The Bronx Tourism Council - Join the 2026 Tour de Bronx!

 

"Pedaling Through History"

Get ready to ride through the Bronx! Established in 1993, Tour de Bronx is the largest free cycling event in New York State, bringing cyclists and communities together for a day of fitness, culture, and exploration. The annual event showcases the Bronx’s parks, neighborhoods, cultural landmarks, and community destinations, while promoting cycling as a fun and accessible way to experience the borough.

Presented by the Bronx Tourism Council (BTC) and the Bronx Economic Development Corporation (BXEDC), Tour de Bronx brings together tourism and economic development to celebrate the Bronx, attract visitors, and strengthen connections across the borough.

 When: Sunday, October 4, 2026

 Routes: 10, 25 & 40 miles

 Cost: FREE

Registration opens soon! Stay tuned for more details!

Volunteers!

Tour de Bronx takes a community to make it happen! Volunteers play an important role in helping riders have a safe, welcoming, and memorable experience throughout the event. Whether you’re helping at a rest stop, supporting riders along the route, or assisting with event operations, there are plenty of ways to get involved and be part of one of the Bronx’s biggest cycling traditions.

Interested in volunteering? Sign up below!

VOLUNTEER REGISTRATION HERE

For more information, follow our instagram and check out our website ilovethebronx.com

DEC PREPARES FOR ANOTHER GREAT NEW YORK STATE FAIR

 

Department of Environmental Conservation

Visitors Can Explore Exhibits, Purchase Sporting Licenses, Receive a Free Tree Seedling, and Subscribe to the Conservationist Magazine at the Fairgrounds

The New York State Department of Environmental Conservation (DEC) encourages New Yorkers to visit DEC’s engaging exhibits at the Great New York State Fair in Syracuse. The Fair runs from Wednesday, August 26, through Monday, September 7.

“DEC’s footprint at the New York State Fair offers a pathway to the outdoors and opportunities to connect with nature,” Commissioner Amanda Lefton said. “Visiting DEC at the Fairgrounds can help reignite visitor’s love for all of the great recreation New York has to offer. Whether you’re purchasing a sporting license, planting a free tree seedling, or learning about hiking preparedness from our Forest Rangers, DEC can help you ‘Get Offline and Get Outside’ this summer and all year long.”

In DEC’s Aquarium building, visitors are encouraged to purchase their hunting, fishing, and trapping licenses, as well as DEC’s Trail Supporter patch for $5. All sales of the patch are deposited in the Conservation Fund's Outdoor Recreation, Trail Maintenance, and Development account.

Visitors looking for hunter education course information are encouraged to stop by the Hunter Safety booth for details. DEC Environmental Conservation Police Officers will be showcasing information on waterfowl hunting and the benefits of using non-toxic shotgun ammunition.

Staff from DEC’s Oneida Fish Hatchery will maintain the aquarium throughout the Fair. The trout are from DEC’s Randolph Hatchery, while the lake sturgeon are from DEC’s Oneida Hatchery. The warmwater fish species are collected from Oneida Lake, via trap-nets, and are taken to the fairgrounds in stocking trucks.

Visitors can take home a free tree seedling supplied by DEC’s Saratoga Tree Nursery. Seedlings will be given away each day of the Fair, while supplies last. Attendees are also encouraged to check out the tree planting display to learn how to properly plant a tree. When planting trees, residents can enter their data into DEC’s Tree Tracker to help New York State reach its goal of planting 25 million trees by 2033.

Stop by the Conservationist booth to subscribe to New York’s premier outdoor magazine, celebrating 80 years in print. Visitors can take advantage of our ‘State Fair Special’: $2 off the regular price of a 1-year subscription and two free bonus gifts, while supplies last. Subscribers can choose from a Conservationist tote bag, trucker hat, t-shirt, koozie, reusable snack bag, or sticker pack. While at the booth, enter our free drawing for your chance to win a kayak. Eligibility rules apply.

Outside of the Aquarium building, DEC will staff an information booth throughout the Fair to provide information about recycling, composting, climate change, air quality, wetlands, and much more. DEC’s Office of Indian Nation Affairs will be available on Friday, September 4, for Native Americans Day.

DEC Forest Rangers will be located near the New York State Police exhibit. The Forest Ranger booth will feature information on hiking preparedness, as well as equipment used for wildland firefighting and search and rescue operations.

For more information on the Great New York State Fair, visit the New York State Fair website.

Fairgoers at DEC Aquarium at the New York State Fair

Fairgoers at DEC Aquarium at the New York State Fair

Fairgoers at DEC Aquarium at the New York State Fair

Fairgoers at DEC Aquarium at the New York State Fair

DEPORTED: DHS Deports Illegal Alien Gang Members, Including Attempted Murderers, Drunk Drivers, and Burglars

 

America is no longer a safe haven for illegal aliens

The United States Department of Homeland Security (DHS) released the following statement after U.S. Immigration and Customs Enforcement (ICE) deported more illegal alien gang members from the United States, including those convicted of attempted murder, driving under the influence, and burglary.

“Last week, ICE deported more vicious illegal alien gang members from our country, including those convicted for attempted murder, driving under the influence, and burglary,” said DHS Secretary Markwayne Mullin. “The brave men and women of ICE work tirelessly every single day to arrest and remove illegal aliens from our communities so that we can make America safe again. America is no longer a safe haven for illegal aliens. If you are here illegally, we will find you, arrest you, and deport you.”

Among the illegal alien gang members deported are:

Eddy Ely Lopez, a criminal illegal alien from Mexico and Surenos gang member, deported on August 12. His criminal history includes convictions for attempted murder, use of a firearm in commission of a felony, criminal street gang activity, and possession of drugs in prison.

Marco Obdulio Sarmiento Crispin, a criminal illegal alien from Guatemala and MS-13 gang member, deported on August 12. His criminal history includes arrests for homicide, drug possession, and vehicle theft.

Candelario Gomez-Vasquez, a criminal illegal alien from Mexico and Paisas gang member, deported on August 16. His criminal history includes convictions for driving under the influence of liquor, robbery, resisting an officer, and illegal re-entry, and arrests for cocaine possession and burglary.

Julian Patino Espinoza, a criminal illegal alien from Mexico and Crips gang member, deported on August 10. His criminal history includes convictions for burglary, larceny, and illegal re-entry, and arrests for driving under the influence of liquor, drug possession, and possession of burglary tools.

Cristian Adonay Melgar-Cermeno, a criminal illegal alien from Guatemela and Latin Kings gang member, deported on August 13. His criminal history includes convictions for driving under the influence of liquor, burglary, and obstructing police.

Veterans Affairs Nurse Indicted for Stealing Opioids

 

United States Attorney Daniel N. Rosen announced that Steve Michael Kelley, 58, a former nurse who worked at the Veterans Affairs Medical Center in Minneapolis, was indicted by grand jury for one count of obtaining controlled substances by misrepresentation, fraud, forgery, deception, or subterfuge. His initial appearance was before U.S. Magistrate Judge Elsa M. Bullard on August 21, 2026.

According to the indictment, Kelley is alleged to have wrongfully obtained hydromorphone, a controlled substance, from in or about January 2025 through on or about January 28, 2026.

This case resulted from an investigation by the Department of Veterans Affairs Office of the Inspector General, the Veterans Affairs Police Department, the Food and Drug Administration Office of Criminal Investigations and the Drug Enforcement Administration.

Federal Court Protects National Energy Security and Rejects Dangerous State Efforts to Obstruct Sable Offshore Corporation’s Operation of the Santa Ynez Pipeline

 

In a significant victory for President Trump’s efforts to unleash American energy, the U.S. District Court for the Central District of California affirmed the federal government’s authority to protect national energy security under the Defense Production Act. The ruling ensures that domestically produced oil can reliably reach California refineries and safeguards the continued operation of critical pipeline infrastructure on the California coast.

“Energy security is national security,” said Associate Attorney General Stanley E. Woodward Jr. “And the Department of Justice will continue unleashing American energy to support an affordable and reliable supply of energy necessary for our national and economic security.”  

“This ruling upholds decisive federal action to protect national security by restarting the flow of 50,000 barrels of oil per day when the stability of America’s energy supply is threatened,” said Principal Deputy Assistant Attorney General Adam Gustafson of the Justice Department’s Energy and Natural Resources Division. “The Department of Justice, together with our parters at the Energy, Interior, and Transportation Departments will not allow California or environmental groups to undercut American energy.”

In a comprehensive decision, the U.S. District Court for the Central District of California rejected the State of California’s radical attempt to shut down the Santa Ynez Pipeline and dismissed efforts by California and environmental groups to impose state‑level barriers designed to obstruct federally mandated operations during a declared national energy emergency. The court’s decision ensures that sound federal energy policy — not California’s disruptive anti-energy measures — governs operation of this critical infrastructure.

This ruling comes at a time when state and local energy policies on the West Coast continue to destabilize regional supply and threaten broader national energy resilience. The Santa Ynez Pipeline transports more than one million barrels of domestically produced crude oil per month from offshore wells into California — providing a reliable domestic supply to offset foreign imports and reinforcing the Nation’s energy independence. Its continued operation is also essential to maintaining stable fuel supplies for more than 32 U.S. military installations across the West Coast, supporting operational readiness and ensuring these facilities can meet critical national defense requirements.

The court confirmed that a Defense Production Act order — issued by Secretary of Energy Chris Wright under delegated authority from the President — lawfully preempts state actions aimed at blocking or delaying Sable Offshore Corporation (Sable)’s operations of the Santa Ynez Pipeline. The court held that the only agency that should oversee the safety of two segments of the pipeline subject to a federal consent decree is the Department of Transportation’s Pipeline and Hazardous Materials Safety Administration, and California’s efforts to shut down the pipeline amounted to an attempt to override federal authority and undercut essential national energy priorities.

Key components of the court’s rulings include:

• Denial of California’s motion for a preliminary injunction seeking to suspend the Energy Secretary Wright’s Defense Production Act order requiring operation of the pipeline. The court held that California failed to demonstrate any likelihood of success on the merits of its challenge because the Order is lawful and constitutional.
• Recognition of the Defense Production Act order’s preemptive force, declaring that federal law bars California’s Department of Parks and Recreation from pursuing legal actions — such as trespass claims — that would impede pipeline operations mandated by federal authority.
• Clarification that state courts may not enforce injunctions that conflict with federal directives, as the court addressed efforts by environmental groups to sustain a state‑court injunction.
• Modification of the existing federal consent decree to consolidate oversight of pipeline safety and compliance under the Department of Transportation’s Pipeline and Hazardous Materials Safety Administration, replacing California’s Office of the State Fire Marshal to prevent further state‑level interference with federally directed operations.

The decision makes clear that attempts by California and environmental groups to impose new obstacles to critical energy infrastructure — despite clear federal findings of urgent national security needs — cannot override federal law.

The Department of Justice remains committed to enforcing federal law, defending national energy security, and ensuring that vital infrastructure remains free of unlawful state‑imposed barriers. This case was litigated by the Energy and Natural Resources Division.

Permits Filed for 585 East 164th Street in Morrisania, The Bronx

 

Permits have been filed for a four-story residential building at 585 East 164th Street in Morrisania, The Bronx. Located between Boston Road and Hilton White Way, the lot is closest to the Prospect Avenue subway station, served by the 2 and 5 trains. Shimon Neuman of Madison Tower LLC is listed as the owner behind the applications.

The proposed 52-foot-tall development will yield 8,569 square feet designated for residential space. The building will have 18 residences, most likely rentals based on the average unit scope of 476 square feet. The steel-based structure will also have a penthouse and a 37-foot-long rear yard.

Mohammad Ahead, PE is listed as the architect of record.

Demolition permits will likely not be needed as the lot is vacant. An estimated completion date has not been announced.