2023-2024 Regular SessionGeorgia Legislature

HB481: Public Retirement Systems Investment Authority Law; provide for a fiduciary duty

Legislative Summary

A BILL to be entitled an Act to amend Article 7 of Chapter 20 of Title 47 of the Official Code of Georgia Annotated, the "Public Retirement Systems Investment Authority Law," so as to provide for a fiduciary duty to invest retirement assets solely in the financial interest of participants and their beneficiaries; to provide for duties; to provide for delegation of duties; to provide for objective; to provide for conformance; to provide for a definition; to provide for related matters; to provide for an effective date; to repeal conflicting laws; and for other purposes.

Demographic Impact

Overall analysis of equity impact

80% Positive
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Bill History

2/16/2023
House Hopper
House of Representatives
2/16/2023
House First Readers
House of Representatives
2/21/2023
House Second Readers
House of Representatives
2/21/2024
House Committee Favorably Reported By Substitute
House of Representatives
2/26/2024
House Third Readers
House of Representatives
2/26/2024
House Passed/Adopted By Substitute
House of Representatives
2/27/2024
Senate Read and Referred
Senate
3/8/2024
Senate Committee Favorably Reported
Senate
3/11/2024
Senate Read Second Time
Senate
3/13/2024
Senate Third Read
Senate
3/13/2024
Senate Passed/Adopted
Senate
4/1/2024
House Sent to Governor
House of Representatives
5/6/2024
House Date Signed by Governor
House of Representatives
5/6/2024
Act 587
5/6/2024
Effective Date 2024-07-01

Roll Call Votes

Passage: Senate Vote #649
3/13/2024
50
Yea
0
Nay
4
Not Voting
2
Absent
Result: PASSED
Passage: House Vote #560
2/26/2024
114
Yea
51
Nay
6
Not Voting
7
Absent
Result: PASSED

Status Information

Current Status
Passed(5/6/2024)
Chamber
House of Representatives
Sine Die

Documents

Enrolled
Bill Text3/14/202480.2 KB
Comm Sub
Bill Text2/26/202480.2 KB
Comm Sub
Bill Text2/21/202477.5 KB
Introduced
Bill Text2/16/202313.3 KB
Misc
Misc2/21/2024132.7 KB
Misc
Misc2/16/202337.8 KB