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GA HB1035

Bill

Official Source

Status

Introduced

2/19/2014

Primary Sponsor

Tom Weldon

Click for details

Origin

House of Representatives

2013-2014 Regular Session

AI Summary

  • Amends O.C.G.A. § 47-20-83 to add a new paragraph (23) expanding the authorized investment options for Georgia's public retirement systems
  • Authorizes public retirement systems to invest in master limited partnerships (MLPs) that qualify with the IRS as publicly traded limited partnerships
  • Eligible MLPs must derive at least 90 percent of their income from real estate, natural resources, and commodities
  • Sponsored by Representative Weldon of the 3rd District during the 2014 legislative session

Legislative Description

Retirement and pensions; public retirement systems invest in publicly traded limited partnerships which derive 90 percent of cash flow from real estate, natural resources, and commodities; authorize

Last Action

House Second Readers

2/21/2014

Full Bill Text

No bill text available