MA S1178

Bill

Authorizing municipal use of the prudent investor standards

Introduced
01/22/2019

In Committee
12/04/2019

Crossed Over

Passed

Dead
12/31/2020

Introduced Session

191st General Court

Bill Summary

For legislation to authorize municipal use of the prudent investor standards. Municipalities and Regional Government.

AI Summary

This bill authorizes municipalities and regional governments in Massachusetts to manage their trust funds using the "prudent investor rule" as outlined in the Massachusetts Prudent Investor Act, rather than the more restrictive investment guidelines in the current law. The bill allows municipalities to pool their trust funds and invest them in accordance with the prudent investor standard, unless the terms of a specific trust or bequest expressly prohibit this.

Committee Categories

Budget and Finance, Government Affairs

Sponsors (10)

Jay Barrows (R), Viriato deMacedo (R), Carolyn Dykema (D), Anne Gobi (D), Danielle Gregoire (D), Hannah Kane (R), David Linsky (D), Shaunna O'Connell (R), Dave Robertson (D), Bruce Tarr (R),

Last Action

Bill reported favorably by committee and referred to the committee on Senate Ways and Means (on 12/04/2019)

Official Document

https://malegislature.gov/Bills/191/S1178

(14 Companion Bills)

Version:

Document Type	Source Location
State Bill Page	https://malegislature.gov/Bills/191/S1178
Bill	https://malegislature.gov/Bills/191/S1178.pdf

Bill	Bill Name	Last Action	Type
H2768	Providing for sustainability and transparency standards by Massachusetts business entities	Accompanied a study order, see H5103	Similar To
S1311	Relative to radon testing	Accompanied a new draft, see S2696	Similar To
S1365	Relative to the possession of dangerous open flame devices	Bill reported favorably by committee and referred to the committee on Senate Ways and Means	Similar To
S1433	Establishing a board of hoisting machinery regulations	Bill reported favorably by committee and referred to the committee on Senate Ways and Means	Similar To
S2013	Ensuring public safety at natural gas sites	Ought NOT to pass (under Joint Rule 10) and placed in the Orders of the Day for the next session	Similar To
S2192	Relative to gender identity on Massachusetts identification	New draft substituted, see S2203	Similar To
S2203	Relative to gender identity on Massachusetts identification	Reprinted as amended, see S2213	Similar To
S2213	Relative to gender identity on Massachusetts identification	Read; and referred to the committee on House Ways and Means	Similar To
S2238	Further regulating thoroughbred breeding	Reported (in part) by S2308	Similar To
S2308	Extending simulcasting and horse racing authorization	Signed by the Governor, Chapter 1 of the Acts of 2020	Similar To
S2379	Communication from the Human Resources Division of the Executive Office for Administration and Finance (under the provisions of Section 61A of Chapter 31 and Section 5(3)(e) of Chapter 32 of the General Laws) submitting revisions to regulations for initial hire medical and physical fitness standards tests of municipal public safety personnel	House concurred	Similar To
S2391	Similar Bills	See H4087	Similar To
S2400	Similar Bills	Amendment #1 (Lawn) adopted	Similar To
S2446	An Act relative to agricultural commission input on board of health regulations	Laid before the Governor	Similar To

Bill

Bill Name

Last Action

Type

H2768

Providing for sustainability and transparency standards by Massachusetts business entities

Accompanied a study order, see H5103

Similar To

S1311

Relative to radon testing

Accompanied a new draft, see S2696

Similar To

S1365

Relative to the possession of dangerous open flame devices

Bill reported favorably by committee and referred to the committee on Senate Ways and Means

Similar To

S1433

Establishing a board of hoisting machinery regulations

Bill reported favorably by committee and referred to the committee on Senate Ways and Means

Similar To

S2013

Ensuring public safety at natural gas sites

Ought NOT to pass (under Joint Rule 10) and placed in the Orders of the Day for the next session

Similar To

S2192

Relative to gender identity on Massachusetts identification

New draft substituted, see S2203

Similar To

S2203

Relative to gender identity on Massachusetts identification

Reprinted as amended, see S2213

Similar To

S2213

Relative to gender identity on Massachusetts identification

Read; and referred to the committee on House Ways and Means

Similar To

S2238

Further regulating thoroughbred breeding

Reported (in part) by S2308

Similar To

S2308

Extending simulcasting and horse racing authorization

Signed by the Governor, Chapter 1 of the Acts of 2020

Similar To

S2379

Communication from the Human Resources Division of the Executive Office for Administration and Finance (under the provisions of Section 61A of Chapter 31 and Section 5(3)(e) of Chapter 32 of the General Laws) submitting revisions to regulations for initial hire medical and physical fitness standards tests of municipal public safety personnel

House concurred

Similar To

S2391

Similar Bills

See H4087

Similar To

S2400

Similar Bills

Amendment #1 (Lawn) adopted

Similar To

S2446

An Act relative to agricultural commission input on board of health regulations

Laid before the Governor

Similar To

Bill > S1178

MA S1178

summary

Introduced Session

Bill Summary

AI Summary

Committee Categories

Sponsors (10)

Last Action

Official Document

bill text

bill summary

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