Bill > HB2143

This bill amends section 38-848 of the Arizona Revised Statutes, which outlines the powers and duties of the Public Safety Personnel Retirement System (PSPRS) Board of Trustees. The key change is the insertion of the phrase "publicly traded" into a provision that limits the percentage of voting stock the system can own in any single corporation. This amendment clarifies that the existing five percent ownership limit applies specifically to voting stock in publicly traded corporations, with an exception for membership interests in limited liability companies. The PSPRS is a retirement system for public safety officers in Arizona, and its Board of Trustees is responsible for managing its investments to ensure the financial security of its members' pensions.

Budget and Finance

https://apps.azleg.gov/BillStatus/BillOverview/83793