Changes to State Investment Funds Committee
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Bill Summary - 21LSO-0387 Bill No.: HB0219 Effective: Immediately LSO No.: 21LSO-0387 Enrolled Act No.: HEA No. 0084 Chapter No.: 151 Prime Sponsor: Nicholas Catch Title: Investment funds committee-membership. Subject: Investment Funds Committee. Summary/Major Elements: The Investment Funds Committee advises the State Treasurer and others on the investment of Wyoming's permanent and other funds. The Committee is comprised of the State Treasurer and other members established in statute. This bill amendments membership on the Committee to include the State Treasurer and six (6) voting members who are appointed by an existing, statutorily created selection panel. The bill makes the Chief Investment Officer and the Wyoming Retirement System Chief Investment Officer ex officio nonvoting members of the Committee and allows both the House and Senate to each appoint one (1) ex officio nonvoting member. Previously, the two (2) chief investment officers were voting members of the Committee. The Legislature previously had only one (1) ex officio member on the Committee. 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 5, 9:44 PM
R · H01
Why they voted this way
The lawmaker supports keeping the current system because he wants a strong treasurer responsible for risk management and overseeing competent professionals, rather than weakening that position.
R · H54
Why they voted this way
The lawmaker opposes the amendment because he believes relying on an elected treasurer's personality is risky, and if they are not qualified to chair the committee, shareholders in a corporation could fire them but voters cannot do so immediately.
H60
Why they voted this way
The lawmaker opposes the amendment because he believes statewide elected officials already have their pulse on the population, and if there is an issue with the position, constituents can address it through elections.
R · H18
Why they voted this way
The lawmaker supports the bill because he believes the constitution indicates that managing funds is merely depositing them, and investing as prescribed by the legislature fulfills their job.
Why they voted this way
The lawmaker supports keeping the treasurer in charge because he believes it is logical for the leader of the organization to chair the board, similar to how the speaker chairs the house.
Why they voted this way
The lawmaker states he is voting against the bill because no specific problem was identified that this part of the legislation solves.
Wyoming roll calls
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Official activity
Changes
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The amendment changes how the investment funds committee selects its leaders, adds a specific start date for annual reviews, and modifies the term length and roles of certain members.
The amendment removes certain provisions related to the membership and voting privileges of the investment funds committee, including deleting specific lines that mention providing for chairman roles and removing a subsection.
The amendment changes the number of voting members in the investment funds committee from five to six and clarifies that certain ex officio members cannot vote on benchmarks.
This amendment removes certain sections and provisions related to the membership and voting privileges of the investment funds committee, including deleting specific lines that were previously added by another amendment.
The amendment removes certain provisions related to the membership and voting privileges of the investment funds committee.