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NC S712

Bill

Official Source

Status

Introduced

5/16/2018

Primary Sponsor

Valerie Jean Foushee

Click for details

Origin

Senate

2017-2018 Session

AI Summary

  • Authorizes the Town of Chapel Hill to invest employee benefit funds held in trust, risk reserve funds, and capital reserves in securities and investments authorized by state law for the State Treasurer under G.S. 147-69.2(b)(1) through (6) and (8).

  • Allows the Town's governing body, agencies, persons, or corporations contracting with the Town to make these investments as designated by the Town's governing body.

  • Overrides existing restrictions in state law (G.S. 153A-93, 153A-149, 159-18, 159-30, 159-31) to grant this expanded investment authority.

  • Becomes effective upon enactment.

Legislative Description

Town of Chapel Hill Investments

Last Action

Ref To Com On Rules and Operations of the Senate

5/17/2018

Committee Referrals

Rules and Operations of the Senate5/17/2018

Full Bill Text

No bill text available