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
Relative to authorizing municipal use of the prudent investor standards. Municipalities and Regional Government.
AI Summary
This bill allows municipalities and regional governments in Massachusetts to manage their trust funds in accordance with the Massachusetts Prudent Investor Act, rather than the more restrictive investment guidelines outlined in existing law. The bill specifies that this new investment approach can be adopted upon acceptance by the city, town, or district, and that it would not apply if it conflicts with the clear intent of the donor as expressed in the terms of a bequest or trust.
Committee Categories
Government Affairs
Sponsors (1)
Last Action
Accompanied a study order, see H4573 (on 05/16/2024)
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/H2105 |
| BillText | https://malegislature.gov/Bills/193/H2105.pdf |
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