Bill Text: FL S0880 | 2012 | Regular Session | Comm Sub

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Bill Title: State Investments

Spectrum: Bipartisan Bill

Status: (Introduced - Dead) 2012-03-06 - Laid on Table, refer to CS/HB 1417 -SJ 882 [S0880 Detail]

Download: Florida-2012-S0880-Comm_Sub.html

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       Florida Senate - 2012                              CS for SB 880
       
       
       
       By the Committee on Governmental Oversight and Accountability;
       and Senator Ring
       
       
       
       585-02466-12                                           2012880c1
    1                        A bill to be entitled                      
    2         An act relating to state investments; amending s.
    3         215.47, F.S.; increasing the amount of money that may
    4         be invested in alternative investments by the State
    5         Board of Administration; providing an effective date.
    6  
    7  Be It Enacted by the Legislature of the State of Florida:
    8  
    9         Section 1. Subsection (15) of section 215.47, Florida
   10  Statutes, is amended to read:
   11         215.47 Investments; authorized securities; loan of
   12  securities.—Subject to the limitations and conditions of the
   13  State Constitution or of the trust agreement relating to a trust
   14  fund, moneys available for investments under ss. 215.44-215.53
   15  may be invested as follows:
   16         (15) With no more, in the aggregate, than 20 10 percent of
   17  any fund in alternative investments, as defined in s.
   18  215.4401(3)(a)1., through participation in an alternative
   19  investment vehicle as those terms are the vehicles defined in s.
   20  215.4401(3)(a)2., or in securities or investments that are not
   21  publicly traded and are not otherwise authorized by this
   22  section.
   23         Section 2. This act shall take effect July 1, 2012.