Relates to alternative investment bonds

Bill A 2106 creates "alternative finance investment bonds" as a new type of state investment instrument. These bonds would represent ownership shares in tangible assets or projects (not debt), allowing investors who avoid interest-based bonds for religious or moral reasons to participate. The bill directs state agencies to develop this instrument within one year, ensuring it functions like traditional bonds but with payments tied to asset returns rather than fixed interest. It aims to broaden investment access for diverse New Yorkers and lower borrowing costs for economic development projects, particularly in distressed communities.