Bill
Bill > HB83
summary
Introduced
01/23/2017
01/23/2017
In Committee
02/28/2017
02/28/2017
Crossed Over
02/10/2017
02/10/2017
Passed
04/03/2017
04/03/2017
Dead
Signed/Enacted/Adopted
05/01/2017
05/01/2017
Introduced Session
2017-2018 Regular Session
Bill Summary
A BILL to be entitled an Act to amend Code Section 47-20-83 of the Official Code of Georgia Annotated, relating to certificated or uncertificated forms of investment and real estate investments, so as to provide that the Georgia Firefighters' Pension Fund may invest up to 10 percent of the total assets of its fund in real estate; to provide for related matters; to repeal conflicting laws; and for other purposes.
AI Summary
This bill amends the Georgia law to allow the Georgia Firefighters' Pension Fund to invest up to 10% of its total assets in real estate. Previously, this investment cap was only applicable to the Georgia Municipal Employees Benefit System and similar associations. The bill also increases the aggregate cap on alternative investments by the Georgia Firefighters' Pension Fund from 5% to 10% of its assets. The bill aims to provide the Georgia Firefighters' Pension Fund with more investment flexibility and diversification options.
Sponsors (6)
Brooks Coleman (R)*,
Gerald Greene (R)*,
Tom Kirby (R)*,
Howard Maxwell (R)*,
David Wilkerson (D)*,
Hunter Hill (R),
Last Action
Effective Date (on 07/01/2017)
bill text
bill summary
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bill summary
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bill summary
| Document Type | Source Location | Created |
|---|---|---|
| BillText | http://www.legis.ga.gov/Legislation/20172018/169282.pdf | 03/26/2017 |
| BillText | http://www.legis.ga.gov/Legislation/20172018/166897.pdf | 03/01/2017 |
| BillText | http://www.legis.ga.gov/Legislation/20172018/163128.pdf | 01/24/2017 |
| Bill | http://www.legis.ga.gov/legislation/en-us/display/20172018/hb/83 | 01/24/2017 |
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