Bill
S 1379
Overview: S 1379 - Requires the natural heritage trust to invest its funds pursuant to the prudent investor actStatus: REFERRED TO CULTURAL AFFAIRS, TOURISM, PARKS AND RECREATIONIn
Overview: S 1379 - Requires the natural heritage trust to invest its funds pursuant to the prudent investor act
Status: REFERRED TO CULTURAL AFFAIRS, TOURISM, PARKS AND RECREATION
Introduced: April 09, 2025
Purpose and Intent: This bill aims to require the Natural Heritage Trust, a state-level fund that supports the preservation of natural lands and habitats, to invest its assets in accordance with the Prudent Investor Act. This would ensure the trust's funds are managed responsibly and with the goal of long-term growth to support its conservation mission.
Key Provisions:
- Mandates the Natural Heritage Trust to invest its funds pursuant to the Prudent Investor Act, which requires fiduciaries to invest with the care, skill, prudence, and diligence that a prudent person would use
- Specifies that the trust's investments must be diversified to minimize the risk of large losses
- Allows the trust to hire professional investment managers to oversee the investment of its assets
Affected Parties and Impacts:
- The Natural Heritage Trust and its beneficiaries, including state and local governments, conservation organizations, and the general public who benefit from the trust's land preservation efforts
- Taxpayers and residents of the state, who could see more effective and responsible management of the trust's funds to support long-term conservation goals
Procedural and Timeline Considerations:
The bill has been referred to the Cultural Affairs, Tourism, Parks and Recreation committee for further consideration.
Compiled from official sources — confirm details with the bill’s official record.
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