summary
Introduced
01/23/2017
01/23/2017
In Committee
01/23/2017
01/23/2017
Crossed Over
Passed
Dead
12/31/2018
12/31/2018
Introduced Session
190th General Court
Bill Summary
Relative to establishing the Massachusetts economically targeted investment authority. State Administration and Regulatory Oversight.
AI Summary
This bill establishes the Massachusetts Economically Targeted Investment Authority (META), which will manage an investment fund containing at least 5% of the assets of all public retirement systems in the Commonwealth. The purpose of META is to invest in "economically targeted investments" - investments that aim to stimulate economic activity in areas with high unemployment, in addition to generating investment returns. The bill outlines the powers and structure of META, including its board of commissioners, and the creation of the META Fund to collect and invest the targeted investment capital. The bill also specifies that investment in these economically targeted investments does not constitute a breach of fiduciary duty for the public retirement systems.
Committee Categories
Government Affairs
Sponsors (1)
Last Action
Accompanied a study order, see H4481 (on 05/10/2018)
Official Document
bill text
bill summary
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bill summary
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bill summary
| Document Type | Source Location |
|---|---|
| State Bill Page | https://malegislature.gov/Bills/190/H3357 |
| Bill | https://malegislature.gov/Bills/190/H3357.pdf |
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