A bill to amend 1943 PA 20, entitled “An act relative to the investment of funds of public corporations of the state; and to validate certain investments,” by amending sections 1, 5, 7, and 7a (MCL 129.91, 129.95, 129.97, and 129.97a), section 1 as amended by 2012 PA 152, section 5 as added by 1997 PA 196, section 7 as added by 2008 PA 220, and section 7a as added by 2008 PA 404.
The bill expands investment options for Michigan public corporations, mandates annual filing of investment policies, and aligns investment authority for certain funds with fiduciary standards, while requiring public reporting on special revenue funds.
Introduced
by
Referred to the Committee on Local Government and Municipal Finance
