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H. 4450
STATUS INFORMATION
General Bill
Sponsors: Reps. Clary, Cogswell and W. Newton
Document Path: l:\council\bills\bbm\9711dg18.docx
Introduced in the House on January 9, 2018
Currently residing in the House Committee on Ways and Means
Summary: State Treasurer
HISTORY OF LEGISLATIVE ACTIONS
Date Body Action Description with journal page number ------------------------------------------------------------------------------- 12/13/2017 House Prefiled 12/13/2017 House Referred to Committee on Ways and Means 1/9/2018 House Introduced and read first time (House Journal-page 118) 1/9/2018 House Referred to Committee on Ways and Means (House Journal-page 118) 2/1/2018 House Member(s) request name added as sponsor: W.Newton
View the latest legislative information at the website
VERSIONS OF THIS BILL
TO AMEND THE CODE OF LAWS OF SOUTH CAROLINA, 1976, BY ADDING SECTION 11-5-290 SO AS TO REQUIRE THE STATE TREASURER TO PROVIDE THE GENERAL ASSEMBLY AN ANNUAL REPORT DETAILING THE TREASURER'S INVESTMENTS AND INVESTMENT STRATEGIES.
Be it enacted by the General Assembly of the State of South Carolina:
SECTION 1. Article 1, Chapter 5, Title 11 of the 1976 Code is amended by adding:
"Section 11-5-290. (A) In addition to other reports required by law, by July first of each year, the State Treasurer shall provide the General Assembly with a report detailing the Treasurer's investments and investment strategies, including, but not limited to:
(1) an investment policy statement that reflects the intended management of the investment portfolio for the upcoming fiscal year; and
(2) a performance report of investments, including an annualized net of fee return for each investment portfolio compared to all internal benchmarks stated in the investment policy statements for the previous fiscal year, and the fiscal years ending three, five, and ten years before the previous fiscal year.
(B) The report required pursuant to subsection (A) also must be posted on the website maintained by the State Treasurer."
SECTION 2. This act takes effect upon approval by the Governor, and the first report must be provided by July 1, 2018.
This web page was last updated on
February 1, 2018 at 9:27 AM