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HM 4063

Framework for a Sovereign Wealth Fund

2025 Regular Session Introduced by Adam Anderson and 1 co-sponsor

Florida memorial urging Congress to establish a framework for a U.S. sovereign wealth fund; non-binding, no state fiscal impact, signals federal action; SM 1488 adopted.

Laid on Table, companion bill(s) passed, see SM 1488 (Adopted)
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Bill Summary · HM 4063

Summary of HM 4063: Framework for a Sovereign Wealth Fund

Overview

  • Bill: HM 4063
  • Title: Framework for a Sovereign Wealth Fund
  • Type: Memorial Resolution (non-binding)
  • Sponsor: Anderson
  • Companion/Adopted: SM 1488 (Avila) – adopted
  • Status: Laid on Table on 2025-04-29; companion bill(s) passed (SM 1488)

Purpose and Intent

  • The memorial urges the Congress of the United States to establish a framework for a sovereign wealth fund (SWF) by enacting legislation necessary to create such a framework.
  • It is informational and aspirational, seeking federal action rather than imposing state law.

Key Provisions and Changes

  • Main Provision: Directs federal lawmakers to develop and enact a framework for a U.S. sovereign wealth fund.
  • Nature of Legislation Requested: The memorial calls for federal legislation to establish the framework and does not itself create or modify state law.
  • Fiscal Impact: The analysis indicates no fiscal impact for Florida at the state level, reflecting its memorial status.

Background and Context

  • On February 3, 2025, President Donald Trump signed EO 14196 directing the Treasury and Commerce Secretaries to develop a plan for establishing an SWF.
  • An SWF is a government-owned investment fund that can invest in financial assets and real estate to benefit citizens.
  • Funding sources for SWFs can include surplus reserves from natural resources, trade surpluses, bank reserves, privatization proceeds, and governmental transfers.
  • U.S. states (11) have established SWFs to fund services (often public education) or provide general revenue. The Alaska Permanent Fund is cited as a model, distributing annual dividends to residents and separating principal from earnings for investment.

Procedural and Timeline Aspects

  • Filed: February 27, 2025
  • Committee Actions: Referred to Insurance & Banking, then Commerce; multiple favorable reports (March 5, March 20, March 21, March 31, 2025).
  • Calendar/First Readings to Passage: Movement through subcommittees and committees culminated in a favorable/advancement path, with the memorial ultimately laid on Table.
  • Note on Status: Although the memorial bill advanced alongside SM 1488, the action to lay on table indicates it did not proceed to a final floor vote in the House.

Affected Parties and Impact

  • Direct Effect: None on state law or funding — memorial (non-binding).
  • Indirect/Policy Impact: Signals Florida’s legislative stance encouraging federal action on establishing an SWF framework; could influence federal discussions and policymaking.

Related Information

  • Companion Bill: SM 1488 (Adopted) – serves as the Senate counterpart to the memorial.
  • Subject/Classification: Memorial with a focus on establishing a sovereign wealth fund framework at the federal level.

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

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