KY HB489 | 2019 | Regular Session
Status
Completed Legislative Action
Spectrum: Partisan Bill (Republican 1-0)
Status: Passed on March 25 2019 - 100% progression
Action: 2019-03-25 - signed by Governor (KY Acts ch. 072)
Text: Latest bill text (Enrolled) [PDF]
Spectrum: Partisan Bill (Republican 1-0)
Status: Passed on March 25 2019 - 100% progression
Action: 2019-03-25 - signed by Governor (KY Acts ch. 072)
Text: Latest bill text (Enrolled) [PDF]
Summary
Amend KRS 61.650 to require internal investment staff and investment consultants of the Kentucky Retirement Systems board of trustees (KRS) to follow the Code of Ethics and Standards of Professional Conduct promulgated by the CFA Institute; require investment managers of KRS to comply with the Investment Advisers Act of 1940, as amended, and all applicable federal statutes, rules, and regulations applicable to investment managers; repeal, reenact, and amend KRS 61.655 to reenact the conflict-of-interest provisions adopted under SB 151/EN 2018; amend KRS 161.430 to require internal investment staff and investment consultants of the Teachers Retirement System board of trustees (TRS) to follow the Code of Ethics and Standards of Professional Conduct promulgated by the CFA Institute, but require investment managers of TRS to comply with the Investment Advisers Act of 1940, as amended, and all applicable federal statutes and rules and regulations applicable to investment managers; repeal, reenact, and amend KRS 161.460 to reenact the conflict-of-interest provisions adopted under SB 151/EN 2018 and make technical changes.
Title
AN ACT relating to the fiduciary and ethical duties of the boards of trustees for the Kentucky Retirement Systems and the Teachers' Retirement System, and declaring an emergency.
Sponsors
Roll Calls
2019-03-14 - House - House: Third Reading RCS# 359 (Y: 73 N: 15 NV: 0 Abs: 12) [PASS]
2019-03-14 - Senate - Senate: Third Reading W/scs 1, scta 1 RSN# 1001 (Y: 33 N: 4 NV: 0 Abs: 0) [PASS]
2019-03-04 - House - House: Third Reading RCS# 215 (Y: 97 N: 0 NV: 0 Abs: 3) [PASS]
2019-03-14 - Senate - Senate: Third Reading W/scs 1, scta 1 RSN# 1001 (Y: 33 N: 4 NV: 0 Abs: 0) [PASS]
2019-03-04 - House - House: Third Reading RCS# 215 (Y: 97 N: 0 NV: 0 Abs: 3) [PASS]
History
Date | Chamber | Action |
---|---|---|
2019-03-25 | House | signed by Governor (KY Acts ch. 072) |
2019-03-14 | House | delivered to Governor |
2019-03-14 | House | enrolled, signed by President of the Senate |
2019-03-14 | House | enrolled, signed by Speaker of the House |
2019-03-14 | House | passed 73-15 |
2019-03-14 | House | House concurred in Senate Committee Substitute (1) and committee amendment (1-title) |
2019-03-14 | House | posted for passage for concurrence in Senate Committee Substitute (1) and committee amendment (1-title) |
2019-03-14 | House | to Rules (H) |
2019-03-14 | House | received in House |
2019-03-14 | Senate | 3rd reading, passed 33-4 with Committee Substitute (1) and committee amendment (1-title) |
2019-03-13 | Senate | passed over and retained in the Consent Orders of the Day |
2019-03-13 | Senate | posted for passage in the Consent Orders of the Day for Wednesday, March 13, 2019 |
2019-03-12 | Senate | reported favorably, 2nd reading, to Rules with Committee Substitute (1) and committee amendment (1-title) as a consent Bill |
2019-03-07 | Senate | to State & Local Government (S) |
2019-03-06 | Senate | returned to Committee on Committees (S) |
2019-03-06 | Senate | 1st reading |
2019-03-06 | Senate | taken from Committee on Committees (S) |
2019-03-05 | Senate | received in Senate |
2019-03-04 | House | 3rd reading, passed 97-0 |
2019-03-01 | House | posted for passage in the Regular Orders of the Day for Monday, March 4, 2019 |
2019-03-01 | House | 2nd reading, to Rules |
2019-02-28 | House | reported favorably, 1st reading, to Calendar |
2019-02-22 | House | posted in committee |
2019-02-21 | House | to State Government (H) |
2019-02-20 | House | introduced in House |