Did not become law. It stopped in the House of Representatives's Appropriations Committee on January 31, 2023. The 2023 session has ended.
2023 Regular Session
House Bill 818
PERS Board; require to make investment decisions with sole purpose of maximizing returns.
What it does
The synopsis the Legislature published with the bill.
AN ACT TO DECLARE THE PUBLIC POLICY OF THE STATE REGARDING THE INVESTMENT OF MONIES OF THE PUBLIC EMPLOYEES' RETIREMENT SYSTEM AND EXPRESS LEGISLATIVE INTENT TO EMPHASIZE THE COMMITMENT OF THE STATE TO ONLY INVEST STATE TRUST FUND MONIES IN A MANNER THAT PRIORITIZES THE SAFETY OF INVESTMENTS AND THE HIGHEST RETURN ON INVESTMENT FOR BENEFICIARIES, WITHOUT CONSIDERATION FOR NONPECUNIARY BELIEFS OR POLITICAL FACTORS; TO AMEND SECTION 25-11-121, MISSISSIPPI CODE OF 1972, TO DIRECT THE BOARD OF TRUSTEES OF THE PUBLIC EMPLOYEES' RETIREMENT SYSTEM TO MAKE INVESTMENT DECISIONS WITH THE SOLE PURPOSE OF MAXIMIZING THE SAFETY OF, AND RETURN ON, ITS INVESTMENTS; TO PROHIBIT THE BOARD FROM MAKING INVESTMENT DECISIONS WITH THE PRIMARY PURPOSE OF INFLUENCING ANY SOCIAL OR ENVIRONMENTAL POLICY OR ATTEMPTING TO INFLUENCE THE GOVERNANCE OF ANY CORPORATION; TO PROHIBIT THE BOARD FROM SACRIFICING INVESTMENT RETURNS OR ASSUMING GREATER INVESTMENT RISKS AS A MEANS OF PROMOTING COLLATERAL SOCIAL POLICY GOALS; AND FOR RELATED PURPOSES.
Sponsors
Who carried the bill in each chamber, and who signed on. Each name leads to the member's page.
In the House of Representatives
Sponsor
Its course
January 16 to January 31, 2023, on one scale. In the top row each mark is a day something happened; taller marks are busier days.
Each committee stop sits inside its chamber.
Every action2 actions on 2 days
In the House of RepresentativesJan 16 to Jan 31 · stopped15 days
AppropriationsJan 16 to Jan 31 · stopped15 days
Text
Each version as the Legislature printed it.
l9n doesn't hold this bill's text yet.
What happened
In l9n's words, one line for each step. Every action as the Legislature published it is below.
In the House of Representatives Jan 16 – Jan 31
- Jan 16Referred to the House committee on Appropriations
- Jan 31Died in committee in the House
All 2 actions, as published
- Jan 16Referred To AppropriationsHouse of Representatives
- Jan 31Died In CommitteeHouse of Representatives