View Amendment Current Amendment: 60 to Bill 3700 Rep. BALES proposes the following Amendment No. 60 to H.3700 as introduced by Ways & Means
(Doc Name H:\LEGWORK\HOUSE\AMEND\COUNCIL\BBM\10120HTC11.DOCX):

EXPLANATION:

Amend the bill, as and if amended, Part IB, page 462, after line 31, by inserting:

/ SECTION 77 - RETIREMENT SYSTEM INVESTMENT COMMISSION:

77.1 (RSIC: Suspended) The Retirement System Investment Commission established pursuant to Section 9-16-315 of the 1976 Code is suspended for the current fiscal year and its functions are devolved upon the State Treasurer, mutatis matandis. To assist the State Treasurer in the investment of Retirement System funds, there is created for the current fiscal year the Retirement System Investment Advisory Committee chaired by the State Treasurer, ex officio, and the following individuals or their designees:
     (1)      the Speaker of the House, ex officio;
     (2)      the House Ways and Means Committee Chair, ex officio;
     (3)      the House Majority Leader, ex officio;
     (4)      the president Pro Tempore of the Senate, ex officio;
     (5)      the Senate Finance Committee Chairman, ex officio;
     (6)      the Senate majority Leader, ex officio;
     (7)      the Seniority Minority Leader, ex officio.
     A designee appointed by any of these must possess the qualifications required for members of the Retirement System Investment Commission pursuant to Section 9-1-315(E) of the 1976 Code. The Advisory Committee shall meet as the chairman determines and advise the State Treasurer on the investment operations of the State Treasurer on behalf of the South Carolina Retirement Systems. /

Renumber sections to conform.
Amend totals and titles to conform.