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]

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.

Tracking Information

Register now for our free OneVote public service or GAITS Pro trial account and you can begin tracking this and other legislation, all driven by the real-time data of the LegiScan API. Providing tools allowing you to research pending legislation, stay informed with email alerts, content feeds, and share dynamic reports. Use our new PolitiCorps to join with friends and collegaues to monitor & discuss bills through the process.

Monitor Legislation or view this same bill number from multiple sessions or take advantage of our national legislative search.

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]

History

DateChamberAction
2019-03-25Housesigned by Governor (KY Acts ch. 072)
2019-03-14Housedelivered to Governor
2019-03-14Houseenrolled, signed by President of the Senate
2019-03-14Houseenrolled, signed by Speaker of the House
2019-03-14Housepassed 73-15
2019-03-14HouseHouse concurred in Senate Committee Substitute (1) and committee amendment (1-title)
2019-03-14Houseposted for passage for concurrence in Senate Committee Substitute (1) and committee amendment (1-title)
2019-03-14Houseto Rules (H)
2019-03-14Housereceived in House
2019-03-14Senate3rd reading, passed 33-4 with Committee Substitute (1) and committee amendment (1-title)
2019-03-13Senatepassed over and retained in the Consent Orders of the Day
2019-03-13Senateposted for passage in the Consent Orders of the Day for Wednesday, March 13, 2019
2019-03-12Senatereported favorably, 2nd reading, to Rules with Committee Substitute (1) and committee amendment (1-title) as a consent Bill
2019-03-07Senateto State & Local Government (S)
2019-03-06Senatereturned to Committee on Committees (S)
2019-03-06Senate1st reading
2019-03-06Senatetaken from Committee on Committees (S)
2019-03-05Senatereceived in Senate
2019-03-04House3rd reading, passed 97-0
2019-03-01Houseposted for passage in the Regular Orders of the Day for Monday, March 4, 2019
2019-03-01House2nd reading, to Rules
2019-02-28Housereported favorably, 1st reading, to Calendar
2019-02-22Houseposted in committee
2019-02-21Houseto State Government (H)
2019-02-20Houseintroduced in House

Subjects


Kentucky State Sources


Bill Comments

feedback