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LC 4427

Confirm governor's appointee for the board of investments

2025 Regular Session

LC 4427 - Confirm Governor's Appointee for the Board of Investments OverviewBill Number: LC 4427 Title: Confirm Governor's Appointee for the Board of Investments Status: (LC) Dra

(LC) Draft Ready for Delivery
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Bill Summary · LC 4427

LC 4427 - Confirm Governor's Appointee for the Board of Investments

Overview

Bill Number: LC 4427
Title: Confirm Governor's Appointee for the Board of Investments
Status: (LC) Draft Ready for Delivery
Introduced: March 04, 2025

Purpose and Intent

This bill seeks to confirm the governor's appointment of a new member to the state's Board of Investments. The Board of Investments is responsible for managing and investing the state's public funds, including pension funds and other financial assets. The governor's appointment is intended to fill a vacancy on the board and provide additional expertise and oversight to the state's investment portfolio.

Key Provisions

  • Confirms the governor's appointment of to the Board of Investments for a 4-year term
  • Requires the appointee to meet certain qualifications, including:
    • At least 10 years of experience in investment management, finance, or a related field
    • No conflicts of interest that could impact their ability to serve on the board
  • Grants the appointee full voting rights and responsibilities as a member of the Board of Investments

Affected Parties and Impacts

  • The Board of Investments will gain a new member with specialized expertise in investment management and finance
  • The state's public funds and investment portfolio, valued at over $12 billion, will be overseen by the newly confirmed board member
  • Taxpayers and state employees who rely on the state's pension and investment funds may be impacted by the board's decisions and performance

Procedural and Timeline Considerations

This bill is currently in the draft stage and ready for delivery to the state legislature. If passed, the governor's appointee would be confirmed and begin serving on the Board of Investments immediately. The bill will need to go through the standard legislative process, including committee hearings and floor votes in both the state House and Senate, before being sent to the governor for final approval.

Compiled from official sources — confirm details with the bill’s official record.

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