Bill > H506

This bill creates the North Carolina Investment Authority (NCIA), a new independent state agency responsible for managing state investments previously handled by the State Treasurer. The bill establishes a comprehensive framework for the NCIA's governance, operations, and investment responsibilities. Key provisions include creating a five-member Board of Directors with specific qualification requirements, appointing a Chief Investment Officer, and establishing robust governance and ethical standards. The bill expands investment flexibility for various state funds, including retirement systems and the Escheat Fund, by increasing allowable investment percentages in different asset classes. The NCIA will have significant independence from other state agencies, with its own budgeting and staffing authority, and will be required to provide detailed monthly and annual reporting on investment performance. The bill also includes provisions for managing liquidity, setting risk parameters, and ensuring fiduciary responsibility in investment decisions. The transition will occur in stages, with the NCIA beginning to manage investments on January 1, 2026, while maintaining continuity of existing investment policies and practices during the transition period.

Government Affairs, Labor and Employment

https://www.ncleg.gov/BillLookUp/2025/H506