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1997 SESSION

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HB 2073 Investments of local retirement systems.

Introduced by: George H. Heilig, Jr. | all patrons    ...    notes | add to my profiles

SUMMARY:

Investments of local retirement systems. Provides that localities who do not participate in the Virginia Retirement System are authorized to make any investments which comply with the "Prudent Investor Rule" of the Employment Retirement Income Security Act of 1974 ("ERISA"). The bill also exempts the selection of services related to the management, purchase, or sale of investments including, but not limited to, actuarial services from the Virginia Public Procurement Act, but subjects them to the ERISA standard of care.

FULL TEXT

• 01/14/97  House: Presented & ordered printed 973534288  pdf
• 01/31/97  House: Printed as engrossed 973534288-E  pdf
• 02/22/97  House: Bill text as passed House and Senate (HB2073ER)  pdf
• 03/17/97  Governor: Acts of Assembly Chapter text (CHAP0213)  pdf

AMENDMENTS

• House amendments

HISTORY

• 01/14/97  House: Presented & ordered printed 973534288
• 01/14/97  House: Referred to Committee on Appropriations
• 01/29/97  House: Reported from Appropriations with amd. (22-Y 0-N)
• 01/30/97  House: Read first time
• 01/31/97  House: Read second time
• 01/31/97  House: Committee amendment agreed to
• 01/31/97  House: Engrossed by House as amended
• 01/31/97  House: Printed as engrossed 973534288-E
• 02/01/97  House: Read third time and passed House (Block Vote) (98-Y 0-N)
• 02/01/97  House: VOTE: BLOCK VOTE PASSAGE (98-Y 0-N)
• 02/01/97  House: Reconsideration of passage agreed to by House
• 02/01/97  House: Passed House (Block Vote) (100-Y 0-N)
• 02/01/97  House: VOTE: BLOCK VOTE PASSAGE (100-Y 0-N)
• 02/01/97  House: Communicated to Senate
• 02/03/97  Senate: Constitutional reading dispensed (36-Y 4-N)
• 02/03/97  Senate: Referred to Committee on Finance
• 02/12/97  Senate: Reported from Finance (17-Y 0-N)
• 02/13/97  Senate: Const. reading disp., passed by for the day (39-Y 0-N)
• 02/13/97  Senate: VOTE: CONST. READING DISPENSED (39-Y 0-N)
• 02/13/97  Senate: Reconsideration of passed by for the day (40-Y 0-N)
• 02/13/97  Senate: VOTE: (40-Y 0-N)
• 02/13/97  Senate: Passed by for the day
• 02/14/97  Senate: Read third time
• 02/14/97  Senate: Passed Senate (40-Y 0-N)
• 02/14/97  Senate: VOTE: PASSAGE (40-Y 0-N)
• 02/22/97  House: Bill text as passed House and Senate (HB2073ER)
• 02/26/97  House: Enrolled
• 02/26/97  House: Signed by Speaker
• 02/27/97  Senate: Signed by President
• 03/09/97  Governor: Approved by Governor-Chapter 213 (effective 7/1/97)
• 03/17/97  Governor: Acts of Assembly Chapter text (CHAP0213)