Bill Text: AZ SB1072 | 2020 | Fifty-fourth Legislature 2nd Regular | Chaptered

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Bill Title: State board of investment; continuation

Spectrum: Partisan Bill (Republican 1-0)

Status: (Passed) 2020-03-24 - Chapter 33 [SB1072 Detail]

Download: Arizona-2020-SB1072-Chaptered.html

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Senate Engrossed

 

 

 

State of Arizona

Senate

Fifty-fourth Legislature

Second Regular Session

2020

 

 

 

CHAPTER 33

 

SENATE BILL 1072

 

 

AN ACT

 

repealing section 41-3020.13, Arizona Revised Statutes; amending title 41, chapter 27, article 2, Arizona Revised Statutes, by adding section 41‑3028.13; relating to the state board of investment.

 

 

(TEXT OF BILL BEGINS ON NEXT PAGE)

 

Be it enacted by the Legislature of the State of Arizona:

Section 1.  Repeal

Section 41-3020.13, Arizona Revised Statutes, is repealed.

Sec. 2.  Title 41, chapter 27, article 2, Arizona Revised Statutes, is amended by adding section 41-3028.13, to read:

START_STATUTE41-3028.13.  State board of investment; termination July 1, 2028

A.  The state board of investment terminates on July 1, 2028.

B.  Section 35‑311 and this section are repealed on January 1, 2029. END_STATUTE

Sec. 3.  Purpose

Pursuant to section 41-2955, subsection B, Arizona Revised Statutes, the legislature continues the state board of investment to review investment of state treasury monies and serve as trustees and managers of the permanent state land funds.

Sec. 4.  Retroactivity

Sections 1 and 2 of this act apply retroactively to from and after July 1, 2020.

 

 

 

 

APPROVED BY THE GOVERNOR MARCH 24, 2020.

 

FILED IN THE OFFICE OF THE SECRETARY OF STATE MARCH 24, 2020.