2016 -- S 2743 | |
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LC005324 | |
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STATE OF RHODE ISLAND | |
IN GENERAL ASSEMBLY | |
JANUARY SESSION, A.D. 2016 | |
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A N A C T | |
RELATING TO PUBLIC FINANCE - STATE INVESTMENT COMMISSION | |
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Introduced By: Senators Pearson, Picard, Pichardo, Jabour, and Lombardi | |
Date Introduced: March 10, 2016 | |
Referred To: Senate Finance | |
It is enacted by the General Assembly as follows: | |
1 | SECTION 1. Chapter 35-10 of the General Laws entitled "State Investment Commission" |
2 | is hereby amended by adding thereto the following section: |
3 | 35-10-15. Emerging manager program. -- (a) The state investment commission is |
4 | hereby authorized and directed to develop an "emerging manager program", to promote |
5 | investment with emerging managers with an asset base approval by the commission and whose |
6 | investment firms are newer, smaller and more diverse. |
7 | (b) The commission is hereby empowered to create rules and regulations necessary to |
8 | implement the provisions of this section. |
9 | SECTION 2. This act shall take effect upon passage. |
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LC005324 | |
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EXPLANATION | |
BY THE LEGISLATIVE COUNCIL | |
OF | |
A N A C T | |
RELATING TO PUBLIC FINANCE - STATE INVESTMENT COMMISSION | |
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1 | This act would authorize the state investment commission to create an "emerging |
2 | manager program" to promote investment with newer, smaller and more diverse asset managers. |
3 | This act would take effect upon passage. |
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