Key Votes

SB 703 - Restrictions on the State Treasurer Regarding the State Pension Fund - Key Vote

North Carolina Key Votes

Stages

Family

Issues

Stage Details

Legislation - Signed (Executive) -

Title: Restrictions on the State Treasurer Regarding the State Pension Fund

Signed by Governor Bev Perdue
Legislation - Concurrence Vote Passed (Senate) (36-12) - (Key vote)

Title: Restrictions on the State Treasurer Regarding the State Pension Fund

Vote Smart's Synopsis:

Vote to concur with House amendments and pass a bill that would give the state treasurer more options regarding how he or she can invest state pension fund money. The bill would allow the treasurer to invest 5% of the state pension fund in non-investment grade securities and another 5% in inflation-resistant assets such as timberland or gold.

Highlights:
-Adds the State Health Plan for Teachers and State Employees to the list of funds that the State Treasurer is given power over (Sec. 1). -Gives the State Treasurer control over investments of the Retirement Systems (Sec. 1). -Eliminates the conditions required for the investment of certain assets by the State Treasurer (Sec. 1).
Note:

NOTE: THIS IS A SUBSTITUTE BILL, MEANING THE LANGUAGE OF THE ORIGINAL BILL HAS BEEN REPLACED. THE DEGREE TO WHICH THE SUBSTITUTE BILL TEXT DIFFERS FROM THE PREVIOUS VERSION OF THE TEXT CAN VARY GREATLY.

See The Voting Record

Legislation - Bill Passed (House) (64-50) - (Key vote)

Title: Restrictions on the State Treasurer Regarding the State Pension Fund

Vote Smart's Synopsis:

Vote to pass a bill that changes the funds from which and the conditions under which the State Treasurer may invest.

Highlights:
-Gives the State Treasurer power over the State Health Plan for Teachers and State Employees (Sec. 1). -Gives the State Treasurer control over investments of the Retirement Systems (Sec. 1). -Expands how the Retirement System's assets may be invested (Sec. 1).
Note:

NOTE: THIS IS A SUBSTITUTE BILL, MEANING THE LANGUAGE OF THE ORIGINAL BILL HAS BEEN REPLACED. THE DEGREE TO WHICH THE SUBSTITUTE BILL TEXT DIFFERS FROM THE PREVIOUS VERSION OF THE TEXT CAN VARY GREATLY.

See The Voting Record

Legislation - Bill Passed (Senate) (47-1) -
Legislation - Introduced (Senate) -

Title: Restrictions on the State Treasurer Regarding the State Pension Fund

Sponsors

  • Anthony E. 'Tony' Rand (NC - D) (Out Of Office)