Bill > SB00652

This bill proposes to amend Chapter 32 of the general statutes to establish a new Investment Board that will replace the existing Investment Advisory Council. The primary purpose of this board is to have a fiduciary duty, which means a legal obligation to manage state investments with the highest standard of care and in the best financial interests of the state. Specifically, the bill mandates that the state Treasurer will serve as the chairperson of this new Investment Board. By creating this board, the legislation aims to provide a more structured and accountable approach to managing the state's investment portfolio, potentially improving financial oversight and potentially maximizing returns on state investments.

Budget and Finance

https://www.cga.ct.gov/asp/cgabillstatus/cgabillstatus.asp?selBillType=Bill&bill_num=SB00652&which_year=2025