Plain English Breakdown
The official bill summary confirms the intent to amend the law but does not specify which retirement systems qualify as 'certain' or what the new investment limits are.
HB1347: Allowing Some Public Retirement Systems to Invest in Real Estate
This bill amends Georgia law to give certain public retirement systems the option to invest in real estate and allows them to increase their holdings of alternative investments.
What This Bill Does
- Amends Article 7 of Chapter 20 of Title 47 of the Official Code of Georgia Annotated, known as the Public Retirement Systems Investment Authority Law.
- Provides certain retirement systems with the option to invest in real estate.
- Allows for an increase in allowable alternative investments for certain retirement systems.
- Repeals laws that conflict with these new investment rules.
Who It Names or Affects
- Certain public retirement systems operating under Georgia law.
Limits and Unknowns
- The official text does not list the specific names of which retirement systems are included.
- The exact percentage limits for alternative investments are mentioned but not defined in this summary excerpt.
- No effective date is listed in the official metadata, so it is unknown when these rules will start.