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2001 SESSION
SB 853 Investment of state funds in corporate notes; ancillary contracts.
Introduced by: Kevin G. Miller | all patrons ... notes | add to my profiles
SUMMARY AS PASSED SENATE: (all summaries)
Investment of state funds in corporate notes; ancillary contracts for notes, bonds and investments. Provides that the Department of Treasury may invest up to ten percent of moneys belonging to it or within its control, other than sinking funds, in certain high quality corporate notes with a rating of at least BBB or Baa2, if the Commonwealth Treasury Board has determined the necessity and appropriateness of the use of such securities and has established controls for their use. This bill also provides that qualified public entities may enter into ancillary contracts that are in connection with or incidental to the authorized acquisition or carrying of any investments. Such contracts must be in connection with, or incidental to, entering into, maintaining or amending (i) any agreement that secures notes or bonds of the qualified public entity and is authorized or permitted by law or (ii) any investment or contract providing for any investment otherwise authorized or permitted by law.
FULL TEXT
- 01/10/01 Senate: Presented & ordered printed, prefiled 12/20/00 016034208 pdf | impact statement
- 01/23/01 Senate: Printed as engrossed 016034208-E pdf | impact statement
AMENDMENTS
HISTORY
- 01/10/01 Senate: Presented & ordered printed, prefiled 12/20/00 016034208
- 01/10/01 Senate: Referred to Committee on Finance
- 01/16/01 Senate: Reported from Finance (13-Y 1-N 1-A)
- 01/17/01 Senate: Constitutional reading dispensed (39-Y 0-N)
- 01/17/01 Senate: VOTE: CONST. RDG. DISPENSED R (39-Y 0-N)
- 01/19/01 Senate: Read second time
- 01/19/01 Senate: Passed by for the day
- 01/22/01 Senate: Read second time
- 01/22/01 Senate: Passed by for the day
- 01/23/01 Senate: Read second time
- 01/23/01 Senate: Reading of amendments waived
- 01/23/01 Senate: Amendment No. 1 by Sen. Byrne withdrawn
- 01/23/01 Senate: Amendment No. 2 by Sen. Byrne agreed to
- 01/23/01 Senate: Engrossed by Senate as amended
- 01/23/01 Senate: Printed as engrossed 016034208-E
- 01/24/01 Senate: Read third time and passed Senate (36-Y 4-N)
- 01/24/01 Senate: VOTE: PASSAGE (36-Y 4-N)
- 01/24/01 Senate: Communicated to House
- 02/06/01 House: Placed on Calendar
- 02/06/01 House: Read first time
- 02/06/01 House: Referred to Committee on Finance
- 02/14/01 House: Passed by indefinitely in Finance (23-Y 0-N)