CA SB104

Authorizes California State University Treasurer or campus chief fiscal officers to invest money in mutual funds registered with the SEC and real estate investment trusts, in addition to existing eligible securities.

Establishes investment caps: $200 million for fiscal year 2017, $400 million for 2018, $600 million for 2019, and up to 30% of all invested moneys for 2020 and thereafter.

Requires CSU Trustees to establish an investment committee with a majority of non-university investment experts, and allows the Treasurer or deputy treasurer to serve as a member.

Mandates quarterly investment performance reports to Trustees and annual reports to the Legislature and Department of Finance, including returns, benchmarks, holdings, and fees.

Restricts use of earnings from non-traditional investments to capital outlay or maintenance, and prohibits CSU from seeking budget compensation for investment losses or citing losses to justify tuition increases.