summary
Introduced
01/22/2019
01/22/2019
In Committee
01/22/2019
01/22/2019
Crossed Over
Passed
Dead
12/31/2020
12/31/2020
Introduced Session
191st General Court
Bill Summary
Relative to county retirement systems and establishing the Massachusetts economically targeted investment authority. Public Service.
AI Summary
This bill establishes the Massachusetts Economically Targeted Investment Authority (META), which will oversee a fund that collects investment capital and invests exclusively in economically targeted investments. The bill requires all public retirement systems in Massachusetts to invest at least 5% of their assets in this fund, and it specifies that such investments do not constitute a breach of fiduciary duty. META will be governed by a board of commissioners and will have the authority to acquire real property, invest funds, and provide assistance to local authorities and sponsors. The fund's purpose is to support economic development and affordable housing, particularly for public employees and their families.
Committee Categories
Labor and Employment
Sponsors (4)
Last Action
Accompanied a study order, see H4722 (on 05/20/2020)
Official Document
bill text
bill summary
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bill summary
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bill summary
| Document Type | Source Location |
|---|---|
| State Bill Page | https://malegislature.gov/Bills/191/H2171 |
| Bill | https://malegislature.gov/Bills/191/H2171.pdf |
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