South Carolina General Assembly
122nd Session, 2017-2018

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Indicates Matter Stricken
Indicates New Matter

H. 4450

STATUS INFORMATION

General Bill
Sponsors: Reps. Clary, Cogswell and W. Newton
Document Path: l:\council\bills\bbm\9711dg18.docx

Introduced in the House on January 9, 2018
Currently residing in the House Committee on Ways and Means

Summary: State Treasurer

HISTORY OF LEGISLATIVE ACTIONS

     Date      Body   Action Description with journal page number
-------------------------------------------------------------------------------
  12/13/2017  House   Prefiled
  12/13/2017  House   Referred to Committee on Ways and Means
    1/9/2018  House   Introduced and read first time (House Journal-page 118)
    1/9/2018  House   Referred to Committee on Ways and Means 
                        (House Journal-page 118)
    2/1/2018  House   Member(s) request name added as sponsor: W.Newton

View the latest legislative information at the website

VERSIONS OF THIS BILL

12/13/2017

(Text matches printed bills. Document has been reformatted to meet World Wide Web specifications.)

A BILL

TO AMEND THE CODE OF LAWS OF SOUTH CAROLINA, 1976, BY ADDING SECTION 11-5-290 SO AS TO REQUIRE THE STATE TREASURER TO PROVIDE THE GENERAL ASSEMBLY AN ANNUAL REPORT DETAILING THE TREASURER'S INVESTMENTS AND INVESTMENT STRATEGIES.

Be it enacted by the General Assembly of the State of South Carolina:

SECTION    1.    Article 1, Chapter 5, Title 11 of the 1976 Code is amended by adding:

"Section 11-5-290.    (A)    In addition to other reports required by law, by July first of each year, the State Treasurer shall provide the General Assembly with a report detailing the Treasurer's investments and investment strategies, including, but not limited to:

(1)    an investment policy statement that reflects the intended management of the investment portfolio for the upcoming fiscal year; and

(2)    a performance report of investments, including an annualized net of fee return for each investment portfolio compared to all internal benchmarks stated in the investment policy statements for the previous fiscal year, and the fiscal years ending three, five, and ten years before the previous fiscal year.

(B)    The report required pursuant to subsection (A) also must be posted on the website maintained by the State Treasurer."

SECTION    2.    This act takes effect upon approval by the Governor, and the first report must be provided by July 1, 2018.

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This web page was last updated on February 1, 2018 at 9:27 AM