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AZ SB1292
Bill
Status
Engrossed
2/27/2026
Primary Sponsor
Javan Mesnard
Click for details
AI Summary
- Modifies Public Safety Personnel Retirement System (PSPRS) investment restrictions by adding the word "publicly traded" to clarify that the 5% voting stock ownership limitation applies specifically to publicly traded corporations
- Maintains existing investment limits including maximum 80% in corporate stocks, 5% per corporation, and 20% in foreign securities based on cost value
- Preserves the exemption allowing the board to hold membership interests in limited liability companies without the 5% voting stock restriction
- Applies to investments made by the PSPRS board of trustees, which manages retirement funds for public safety personnel, elected officials, and corrections officers in Arizona
Legislative Description
PSPRS; investments
Public Officers And Employees - Title 38
Last Action
House read second time
3/16/2026
Committee Referrals
Rules3/11/2026
Ways and Means2/27/2026
Rules1/26/2026
Finance1/26/2026
Full Bill Text
No bill text available