MA S1063

Bill

MA S1063

Authorizing municipal use of the prudent investor standards

Introduced
04/15/2015

In Committee
04/11/2016

Crossed Over

Passed

Dead
07/31/2016

Introduced Session

189th General Court

Bill Summary

For legislation to authorize municipal use of the prudent investor standards. Municipalities and Regional Government.

AI Summary

This bill authorizes cities, towns, and districts to manage trust funds held by them as a combined investment pool, allowing these funds to be invested according to the Massachusetts Prudent Investor Act (General Laws Chapter 203C), which provides a framework for responsible investment management, rather than the general rules previously outlined in Section 54 of Chapter 44. This change will take effect for each municipality or district upon its formal acceptance, and importantly, if any part of this new investment rule conflicts with the specific instructions of a donation or trust, those original instructions will always take precedence.

Committee Categories

Budget and Finance, Government Affairs

Sponsors (9)

Viriato deMacedo (R)*, Jamie Eldridge (D), John Fernandes (D), Anne Gobi (D), Brad Jones (R), Keiko Orrall (R), Elizabeth Poirier (R), Angelo Puppolo (D), Richard Ross (R),

Last Action

Bill reported favorably by committee and referred to the committee on Senate Ways and Means (on 04/11/2016)

Official Document

https://malegislature.gov/Bills/189/S1063

(16 Companion Bills)

Version:

Document Type	Source Location
State Bill Page	https://malegislature.gov/Bills/189/S1063
Bill	https://malegislature.gov/Bills/189/S1063.pdf

Bill	Bill Name	Last Action	Type
H242	Relative to telecommunications systems contractors and technicians	Accompanied a study order, see H4578	Similar To
S1004	To clarify the earned sick time ballot question	Report accepted	Similar To
S1062	Relative to ensuring the safety of sober houses	Accompanied a study order, see S2385	Similar To
S1186	To restore integrity in the marketing of pharmaceutical products and medical devices	Accompanied a study order, see S2199	Similar To
S1206	Relative to patient safety	Accompanied a study order, see S2356	Similar To
S1220	To reduce the risks associated with allergic reactions	Accompanied a new draft, see S2468	Similar To
S1686	Relative to equitable pay at quasi-public agencies	Bill reported favorably by committee and referred to the committee on Senate Ways and Means	Similar To
S370	To strengthen the Massachusetts home care program	Accompanied a study order, see H4620	Similar To
S437	Relative to sustainable water conservation practices	Bill reported favorably by committee and referred to the committee on Senate Ways and Means	Similar To
S439	To ensure continued humane animal care and protect family farms in Massachusetts	Accompanied a study order, see S2380	Similar To
S457	Relative to a moratorium on hydraulic fracturing	New draft substituted, see S2309	Similar To
S526	Relative to executive compensation for mutual companies	Accompanied a study order, see S2318	Similar To
S616	To benefit the Health Safety Net Trust Fund	Accompanied a study order, see S2356	Similar To
S743	Relative to equitable divorce proceedings	Accompanied a study order, see S2204	Similar To
S872	To strengthen the anti-human trafficking law	New draft substituted, see S2444	Similar To
S972	Relative to permissible topics of collective bargaining	Bill reported favorably by committee and referred to the committee on Senate Ways and Means	Similar To

Bill

Bill Name

Last Action

Type

H242

Relative to telecommunications systems contractors and technicians

Accompanied a study order, see H4578

Similar To

S1004

To clarify the earned sick time ballot question

Report accepted

Similar To

S1062

Relative to ensuring the safety of sober houses

Accompanied a study order, see S2385

Similar To

S1186

To restore integrity in the marketing of pharmaceutical products and medical devices

Accompanied a study order, see S2199

Similar To

S1206

Relative to patient safety

Accompanied a study order, see S2356

Similar To

S1220

To reduce the risks associated with allergic reactions

Accompanied a new draft, see S2468

Similar To

S1686

Relative to equitable pay at quasi-public agencies

Bill reported favorably by committee and referred to the committee on Senate Ways and Means

Similar To

S370

To strengthen the Massachusetts home care program

Accompanied a study order, see H4620

Similar To

S437

Relative to sustainable water conservation practices

Bill reported favorably by committee and referred to the committee on Senate Ways and Means

Similar To

S439

To ensure continued humane animal care and protect family farms in Massachusetts

Accompanied a study order, see S2380

Similar To

S457

Relative to a moratorium on hydraulic fracturing

New draft substituted, see S2309

Similar To

S526

Relative to executive compensation for mutual companies

Accompanied a study order, see S2318

Similar To

S616

To benefit the Health Safety Net Trust Fund

Accompanied a study order, see S2356

Similar To

S743

Relative to equitable divorce proceedings

Accompanied a study order, see S2204

Similar To

S872

To strengthen the anti-human trafficking law

New draft substituted, see S2444

Similar To

S972

Relative to permissible topics of collective bargaining

Bill reported favorably by committee and referred to the committee on Senate Ways and Means

Similar To

Bill > S1063

summary

Introduced Session

Bill Summary

AI Summary

Committee Categories

Sponsors (9)

Last Action

Official Document

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