Bill Amendment: WV SB297 | 2021 | Regular Session
Bill Title: Relating generally to modernizing Board of Treasury Investments
Status: 2021-05-24 - Chapter 129, Acts, Regular Session, 2021 [SB297 Detail]
Download: West_Virginia-2021-SB297-SB297_HFIN_AMT_4-1.html
SB297 HFIN AMT 4-1
McO
The Committee on Finance moves to amend the title of the bill to read as follows:
Com. Sub. for S. B. 297 -- "A BILL to amend and reenact §12-6C-4 and §12-6C-9 of the Code of West Virginia, 1931, as amended, all relating generally to the Board of Treasury Investments; authorizing the board to provide compensation to appointed directors for each meeting attended and establishing the rate thereof; authorizing the board to invest in commercial paper with a certain nationally recognized rating and weighted maturity; providing a minimum weighted average maturity duration for corporate debt rated investment grade in which the board is authorized to invest; authorizing the board to invest in state and local government securities with certain nationally recognized ratings; authorizing the board to invest in certain asset-backed securities with certain nationally recognized ratings; removing the limitation on the percentage of the Consolidated Fund that the board may invest in evidence of indebtedness of any private corporation or association; and eliminating the requirement that the board invest a certain percentage of the Consolidated Fund in obligations guaranteed by the United States."
ADOPTED
REJECTED
