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AZ HB2213

Bill

Status

Engrossed

2/23/2024

Primary Sponsor

David Livingston

Click for details

Origin

House of Representatives

Fifty-sixth Legislature - Second Regular Session (2024)

AI Summary

  • Requires state treasurer to post current list of state investments and investment managers on publicly accessible website and update within reasonable time.

  • Mandates all state investments be made solely in interest of beneficiary taxpayer based on pecuniary factors only.

  • Requires governmental entities maintaining retirement, deferred compensation, or taxpayer investment plans to make direct investment decisions based solely on pecuniary factors.

  • Requires governmental entities to vote all directly held shares based solely on pecuniary factors when voting proxies.

  • Requires governmental entities with indirect or commingled investments to notify general partners or investment managers that investment decisions and proxy voting must be based solely on pecuniary factors.

Legislative Description

Governmental entities; proxy voting; prohibition

Prohibition

Last Action

Senate read second time

2/29/2024

Committee Referrals

Rules2/28/2024
Government Institutions2/23/2024
Rules1/17/2024
Government1/17/2024

Full Bill Text

No bill text available