Introduced
by
To allow a local government that has a long-term or perpetual trust fund consisting of money and royalties derived from oil and gas exploration or mineral rights on land owned by the community to invest that fund in the same broad range of securities and bonds that state pension funds are allowed to invest in.
Referred to the Committee on Local, Urban, and State Affairs
Reported without amendment
With the recommendation that the bill pass.
Amendment offered
To include non-royalty trust fund money within the scope of what the bill would allow.
The amendment passed by voice vote
Passed in the Senate 37 to 0 (details)
Referred to the Committee on Intergovernmental, Urban, and Regional Affairs
Reported without amendment
Without amendment and with the recommendation that the bill pass.
Passed in the House 104 to 3 (details)
To allow a local government that has a long-term or perpetual trust fund consisting of money and royalties derived from oil and gas exploration or mineral rights on land owned by the community to invest that fund in the same broad range of securities and bonds that state pension funds are allowed to invest in.
