PREFILED    JAN 07 2020

REFERENCE TITLE: state board of investment; continuation

State of Arizona Senate Fifty-fourth Legislature Second Regular Session 2020

SB 1072

Introduced by Senator Leach

 

AN ACT

 

repealing section 41-3020.13, Arizona Revised Statutes; amending title 41, chapter 27, article 2, Arizona Revised Statutes, by adding section 41‑3028.13; relating to the state board of investment.

 

 

(TEXT OF BILL BEGINS ON NEXT PAGE)

 

Be it enacted by the Legislature of the State of Arizona:

Section 1.  Repeal

Section 41-3020.13, Arizona Revised Statutes, is repealed.

Sec. 2.  Title 41, chapter 27, article 2, Arizona Revised Statutes, is amended by adding section 41-3028.13, to read:

START_STATUTE41-3028.13.  State board of investment; termination July 1, 2028

A.  The state board of investment terminates on July 1, 2028.

B.  Section 35‑311 and this section are repealed on January 1, 2029. END_STATUTE

Sec. 3.  Purpose

Pursuant to section 41-2955, subsection B, Arizona Revised Statutes, the legislature continues the state board of investment to review investment of state treasury monies and serve as trustees and managers of the permanent state land funds.

Sec. 4.  Retroactivity

Sections 1 and 2 of this act apply retroactively to from and after July 1, 2020.