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2011 Senate Bill 797: Cap municipal pension board travel expenses and more

Public Act 347 of 2012

Introduced by Sen. Mark Jansen (R) on November 3, 2011 Go cap municipal and state pension board spending on board members' travel and training expenses at $150,000 per year, and $30,000 maximum per board member. The bill also proposes specific pension system transparency requirements; restricts payments to service providers who made large political contributions; increases limits on how much can be invested in real estate, "private equity" and global equities; establishes other regulations on investment service providers; and more.   Official Text and Analysis.
Referred to the Senate Appropriations Committee on November 3, 2011
Reported in the Senate on May 15, 2012 With the recommendation that the substitute (S-3) be adopted and that the bill then pass.
Substitute offered in the Senate on May 29, 2012
The substitute passed by voice vote in the Senate on May 29, 2012
Passed 30 to 5 in the Senate on May 29, 2012 (same description)
Go cap municipal and state pension board spending on board members' travel and training expenses at $150,000 per year, and $30,000 maximum per board member. The bill also proposes specific pension system transparency requirements; restricts payments to service providers who made large political contributions; increases limits on how much can be invested in real estate, "private equity" and global equities; establishes other regulations on investment service providers; and more.
Received in the House on May 29, 2012
Referred to the House Appropriations Committee on May 29, 2012
Reported in the House on August 15, 2012 Without amendment and with the recommendation that the bill pass.
Passed 104 to 1 in the House on September 19, 2012 (same description)
Go cap municipal and state pension board spending on board members' travel and training expenses at $150,000 per year, and $30,000 maximum per board member. The bill also proposes specific pension system transparency requirements; restricts payments to service providers who made large political contributions; increases limits on how much can be invested in real estate, "private equity" and global equities; establishes other regulations on investment service providers; and more.
Signed by Gov. Rick Snyder on December 5, 2012

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