summary
Introduced
03/29/2021
03/29/2021
In Committee
03/31/2022
03/31/2022
Crossed Over
03/28/2022
03/28/2022
Passed
Dead
12/31/2022
12/31/2022
Introduced Session
192nd General Court
Bill Summary
Relative to authorizing 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 trust funds held in their custody in accordance with the Massachusetts Prudent Investor Act, rather than the requirements outlined in the state's general laws for municipal investments. This provides municipalities with more flexibility in how they can invest these trust funds, as long as it does not conflict with the terms of the original bequest or trust instrument.
Committee Categories
Government Affairs
Sponsors (9)
Jeff Roy (D)*,
Josh Cutler (D),
Rich Haggerty (D),
Hannah Kane (R),
Kathy LaNatra (D),
Matt Muratore (R),
Norm Orrall (R),
Adam Scanlon (D),
Steve Xiarhos (R),
Last Action
Read; and referred to the committee on Senate Rules (on 03/31/2022)
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/H2199 |
| Bill | https://malegislature.gov/Bills/192/H2199.pdf |
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