The proposal, which has now cleared both houses of the Legislature, poses a direct challenge to the federal government’s authority over policing the borders.
Explosive reactions to the proposal, which would limit drilling, show how the president’s climate policies are crashing into walls in some oil and gas states.
Apollo was the first to use annuities to build a major financing business. Others followed, driving the growth of the private lending market and worrying regulators.
The move, announced late Wednesday, followed intense lobbying by New York Democrats before and during President Biden’s visit to New York City this week.