Bill > HB2565

This bill aims to consolidate the investment management of funds donated to the University of Washington, referred to as gifts, grants, conveyances, bequests, and devises, by transferring them from the University of Washington's internal investment management company to the Washington State Investment Board. The legislature finds that the State Investment Board is a highly efficient and cost-effective manager of public funds, consistently outperforming the University's own investment management company in terms of both investment returns and administrative costs. By disbanding the University's company and moving its investment portfolios to the State Investment Board, this bill seeks to eliminate unnecessary duplication and reduce expenses for the University. The bill amends existing law (RCW 28B.20.130) to allow the University's Board of Regents to place these donated funds for investment with the State Investment Board, and it adds a new section to chapter 43.33A RCW to grant the State Investment Board the authority to manage these funds.

Budget and Finance, Education

https://app.leg.wa.gov/billsummary?BillNumber=2565&Year=2025&Initiative=false