MA S1123

Bill

Authorizing municipal use of the prudent investor standards

Introduced
01/23/2017

In Committee
01/29/2018

Crossed Over

Passed

Dead
12/31/2018

Introduced Session

190th General Court

Bill Summary

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

AI Summary

This bill authorizes municipalities and regional governments in Massachusetts to manage their trust funds using the "prudent investor rule" set forth in the Massachusetts Prudent Investor Act, rather than the general investment rules outlined in the existing law. The prudent investor rule provides more flexibility in how the funds can be invested, as long as the investment decisions are made prudently. The bill specifies that this new authority takes effect upon acceptance by the municipality or regional government, and that any conflicting terms of a bequest or trust instrument must still be followed.

Committee Categories

Budget and Finance, Government Affairs

Sponsors (14)

Brian Ashe (D), Thomas Calter (D), James Cantwell (D), Brendan Crighton (D), Viriato deMacedo (R), Jamie Eldridge (D), Susan Gifford (R), Donald Humason (R), Brad Jones (R), Brian Murray (D), Shaunna O'Connell (R), Elizabeth Poirier (R), Richard Ross (R), Bruce Tarr (R),

Last Action

Bill reported favorably by committee and referred to the committee on Senate Ways and Means (on 01/29/2018)

Official Document

https://malegislature.gov/Bills/190/S1123

(18 Companion Bills)

Version:

Document Type	Source Location
State Bill Page	https://malegislature.gov/Bills/190/S1123
Bill	https://malegislature.gov/Bills/190/S1123.pdf

Bill	Bill Name	Last Action	Type
H1778	Relative to underground infrastructure	Accompanied a study order, see H4651	Similar To
H3158	To further define standards of employee safety	Accompanied a new draft, see H3703	Similar To
H3720	Establishing a sick leave bank for Justin Michael Rizzo, an employee of the Executive Office of Labor and Workforce Development	Signed by the Governor, Chapter 62 of the Acts of 2017	Similar To
H3952	To further define standards of employee safety	Signed by the Governor, Chapter 44 of the Acts of 2018	Similar To
H4093	To ensure compliance with federal standards regarding the handling of federal tax information	Accompanied a new draft, see H4441	Similar To
H460	Resolve to protect and preserve family camping in Massachusetts	Accompanied a new draft, see S2230	Similar To
H4812	To ensure compliance with federal standards regarding the handling of federal tax information	Signed by the Governor, Chapter 225 of the Acts of 2018	Similar To
S1378	Changing the composition of the Board of Fire Prevention Regulations	Accompanied a study order, see S2292	Similar To
S151	Relative to professional solicitors	Accompanied H138	Similar To
S2072	To further define standards of employee safety	New draft substituted, see S2167	Similar To
S2167	To further define standards of employee safety	For House actions, see H3952	Similar To
S2302	To promote a clean energy future	See S2545	Similar To
S2336	Protecting consumers by prohibiting blocking, throttling, or paid prioritization in the provision of internet service	New draft substituted, see S2610	Similar To
S2697	Similar Bills	See H4851	Similar To
S314	Ensuring charter school integrity	Accompanied a study order, see S2428	Similar To
S445	Relative to Sunday hunting	Accompanied a new draft, see S2463	Similar To
S798	To expand intensive parole supervision	Accompanied a study order, see S2313	Similar To
S970	To regulate skimming devices	Accompanied a study order, see S2313	Similar To

Bill

Bill Name

Last Action

Type

H1778

Relative to underground infrastructure

Accompanied a study order, see H4651

Similar To

H3158

To further define standards of employee safety

Accompanied a new draft, see H3703

Similar To

H3720

Establishing a sick leave bank for Justin Michael Rizzo, an employee of the Executive Office of Labor and Workforce Development

Signed by the Governor, Chapter 62 of the Acts of 2017

Similar To

H3952

To further define standards of employee safety

Signed by the Governor, Chapter 44 of the Acts of 2018

Similar To

H4093

To ensure compliance with federal standards regarding the handling of federal tax information

Accompanied a new draft, see H4441

Similar To

H460

Resolve to protect and preserve family camping in Massachusetts

Accompanied a new draft, see S2230

Similar To

H4812

To ensure compliance with federal standards regarding the handling of federal tax information

Signed by the Governor, Chapter 225 of the Acts of 2018

Similar To

S1378

Changing the composition of the Board of Fire Prevention Regulations

Accompanied a study order, see S2292

Similar To

S151

Relative to professional solicitors

Accompanied H138

Similar To

S2072

To further define standards of employee safety

New draft substituted, see S2167

Similar To

S2167

To further define standards of employee safety

For House actions, see H3952

Similar To

S2302

To promote a clean energy future

See S2545

Similar To

S2336

Protecting consumers by prohibiting blocking, throttling, or paid prioritization in the provision of internet service

New draft substituted, see S2610

Similar To

S2697

Similar Bills

See H4851

Similar To

S314

Ensuring charter school integrity

Accompanied a study order, see S2428

Similar To

S445

Relative to Sunday hunting

Accompanied a new draft, see S2463

Similar To

S798

To expand intensive parole supervision

Accompanied a study order, see S2313

Similar To

S970

To regulate skimming devices

Accompanied a study order, see S2313

Similar To

Bill > S1123

MA S1123

summary

Introduced Session

Bill Summary

AI Summary

Committee Categories

Sponsors (14)

Last Action

Official Document

bill text

bill summary

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