House File 2427

                                       HOUSE FILE       
                                       BY  COMMITTEE ON ECONOMIC
                                           GROWTH

                                       (SUCCESSOR TO HSB 647)


    Passed House,  Date               Passed Senate, Date             
    Vote:  Ayes        Nays           Vote:  Ayes        Nays         
                 Approved                            

                                      A BILL FOR

  1 An Act relating to investments in Iowa under the Iowa public
  2    employees' retirement system.
  3 BE IT ENACTED BY THE GENERAL ASSEMBLY OF THE STATE OF IOWA:
  4 TLSB 6411HV 80
  5 ec/pj/5

PAG LIN

  1  1    Section 1.  Section 97B.7A, subsection 2, Code Supplement
  1  2 2003, is amended to read as follows:
  1  3    2.  INVESTMENT ACQUISITIONS.  Within the limitations of the
  1  4 investment standards prescribed in this section, the system
  1  5 may acquire and retain every kind of property and every kind
  1  6 of investment which persons of prudence, discretion, and
  1  7 intelligence acquire or retain for their own account.
  1  8 Consistent with this section, investments shall be made in a
  1  9 manner that will enhance the economy of this state, including
  1 10 increasing venture capital opportunities for business growth
  1 11 in Iowa, and in particular, will result in increased
  1 12 employment of the residents of this state.  Investments of
  1 13 moneys in the retirement fund are not subject to sections
  1 14 73.15 through 73.21.
  1 15 HF 2427
  1 16 ec/es/25
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