summary
Introduced
03/29/2021
03/29/2021
In Committee
03/29/2021
03/29/2021
Crossed Over
Passed
Dead
12/31/2022
12/31/2022
Introduced Session
192nd 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 and invest their trust funds according to the "prudent investor rule" outlined in the Massachusetts Prudent Investor Act, rather than the standard investment guidelines specified in existing law. This allows these local governments to pool and invest their trust funds more flexibly, as long as the investment approach does not conflict with any donor-specified terms in the original trust instrument.
Committee Categories
Government Affairs
Sponsors (6)
Anne Gobi (D)*,
Jo Comerford (D),
Hannah Kane (R),
John Keenan (D),
Patrick O'Connor (R),
Adam Scanlon (D),
Last Action
Accompanied H2199 (on 12/13/2021)
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/192/S1336 |
| Bill | https://malegislature.gov/Bills/192/S1336.pdf |
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