Bill > SB1292

This bill amends existing Arizona law concerning the Public Safety Personnel Retirement System (PSPRS) by clarifying the types of investments the PSPRS Board of Trustees can make. Specifically, it modifies the definition of eligible corporate stocks and exchange-traded funds (ETFs) that the board can directly purchase, ensuring these investments are "publicly traded" and meet certain listing or designation requirements on recognized exchanges or national market systems, or are foreign securities from countries with diplomatic relations with the U.S., or are ETFs recommended by the chief investment officer that are registered and traded on a public exchange based on a recognized index. The bill also clarifies that the board's authority to invest in limited liability companies, limited partnerships, and other entities for venture capital, private equity, or real estate purposes remains intact, and that certain investment-related information provided to the board is considered confidential and proprietary, not subject to public record.

Budget and Finance

https://apps.azleg.gov/BillStatus/BillOverview/84823