Investment of Public Funds
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Bill Summary - 20LSO-0154 Bill No.: HB0164 Effective: Immediately LSO No.: 20LSO-0154 Enrolled Act No.: HEA No. 0061 Chapter No.: 82 Prime Sponsor: Select Committee on Capital Financing & Investments Catch Title: Investment of public funds. Subject: State investing and investment management. Summary/Major Elements: Under existing law, the State Treasurer is charged to invest various state funds and hire investment managers in accordance with investment policy statements adopted by the State Loan and Investment Board and with the consultation of the Investment Funds Committee. The act: Specifies the State Treasurer is responsible for the investment of state funds; Requires retention of a designated chief investment officer within the State Treasurer's Office; Revises requirements for the adoption of investment policy statements to include consultation with the Investment Funds Committee; Requires review and recommendation by the Investment Funds Committee of new investments in alternative assets; Amends the membership and duties of the Investment Funds Committee; Revises reimbursement of expenses for Investment Funds Committee members; Authorizes the State Loan and Investment Board to hold an executive session meeting to receive education regarding investment managers and to interview investment managers. Comments: Requires reporting upon request of the Select Committee on Capital Financing and Investments. The above summary is not an official publication of the Wyoming Legislature and is not an official statement of legislative intent. While the Legislative Service Office endeavored to provide accurate information in this summary, it should not be relied upon as a comprehensive abstract of the bill.
Public statements
Last checked Aug 6, 10:14 AM
Why they voted this way
The lawmaker argues that the bill incorrectly removes the elected state treasurer from their role as chief investment officer, asserting this position was established because they are an elected official. They urge a no vote to ensure the elected treasurer remains responsible for investment returns.
If a lawmaker is not listed, we couldn't find a published reason.
Wyoming roll calls
6 roll calls
Official activity
Changes
2 stored
The amendment changes the duties of the state treasurer to include responsibility for investing state funds and modifies committee membership requirements.
The amendment changes specific sections of HB0164 to modify how certain government committees operate and what information they can discuss in private meetings.