Mississippi House Bill 818 (Prior Session Legislation)

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Completed Legislative Action
Spectrum: Partisan Bill (Republican 1-0)
Status: Failed on January 31 2023 - 100% progression
Action: 2023-01-31 - Died In Committee
Text: Latest bill text (Introduced) [HTML]

An Act To Declare The Public Policy Of The State Regarding The Investment Of Monies Of The Public Employees' Retirement System And Express Legislative Intent To Emphasize The Commitment Of The State To Only Invest State Trust Fund Monies In A Manner That Prioritizes The Safety Of Investments And The Highest Return On Investment For Beneficiaries, Without Consideration For Nonpecuniary Beliefs Or Political Factors; To Amend Section 25-11-121, Mississippi Code Of 1972, To Direct The Board Of Trustees Of The Public Employees' Retirement System To Make Investment Decisions With The Sole Purpose Of Maximizing The Safety Of, And Return On, Its Investments; To Prohibit The Board From Making Investment Decisions With The Primary Purpose Of Influencing Any Social Or Environmental Policy Or Attempting To Influence The Governance Of Any Corporation; To Prohibit The Board From Sacrificing Investment Returns Or Assuming Greater Investment Risks As A Means Of Promoting Collateral Social Policy Goals; And For Related Purposes.

PERS Board; require to make investment decisions with sole purpose of maximizing returns.

Rep. Lee Yancey [R]

Date	Chamber	Action
2023-01-31	House	Died In Committee
2023-01-16	House	Referred To Appropriations

Chapter	Article	Section	Citation Type	Statute Text
25	11	121	Amended Code	See Bill Text

Type	Source
Summary	https://billstatus.ls.state.ms.us/2023/pdf/history/HB/HB0818.xml
Text	https://billstatus.ls.state.ms.us/documents/2023/html/HB/0800-0899/HB0818IN.htm