l9n/ Mississippi

2024 Regular Session

House Bill 1170

PERS Board; require to make investment decisions with sole purpose of maximizing returns.

Did not become law. It stopped in the House of Representatives's State Affairs Committee on March 5, 2024. The 2024 session has ended.

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

8 co-sponsors

Donnie Bell, Clay Deweese, Kevin Horan, Gene Newman, Brent Powell, Rob Roberson, Fred Shanks, Henry Zuber III

Its course

February 14 to March 5, 2024, 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 RepresentativesFeb 14 to Mar 5 · stopped20 days

State AffairsFeb 14 to Mar 5 · stopped20 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 Feb 14 – Mar 5

  1. Feb 14Referred to the House committee on State Affairs
  2. Mar 5Died in committee in the House
All 2 actions, as published
  1. Feb 14Referred To State AffairsHouse of Representatives
  2. Mar 5Died In CommitteeHouse of Representatives