summary
Introduced
02/16/2023
02/16/2023
In Committee
02/16/2023
02/16/2023
Crossed Over
Passed
Dead
12/31/2024
12/31/2024
Introduced Session
193rd 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 to manage their trust funds using the "prudent investor" standards outlined in the Massachusetts Prudent Investor Act, rather than the more restrictive investment rules in the current law. The bill allows municipalities to pool and invest their trust funds in accordance with the prudent investor standards, unless the terms of a specific bequest, trust, or other instrument expressly state a different investment approach.
Committee Categories
Government Affairs
Sponsors (1)
Last Action
Accompanied a study order, see S2647 (on 02/15/2024)
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/193/S1298 |
| BillText | https://malegislature.gov/Bills/193/S1298.pdf |
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