The bill HB2213 amends existing Arizona law regarding the management of public funds by the State Treasurer and governmental entities. It mandates that the State Treasurer must maintain and publicly post a current list of state investments and investment managers on their website, updating this information within a reasonable timeframe. Additionally, all state investments must be made solely in the interest of the taxpayer, with evaluations based on "pecuniary factors," which are defined as factors that materially affect the financial risk or return of an investment.

Furthermore, the bill establishes requirements for governmental entities that maintain investment plans. These entities must make all direct investment decisions and vote on shares based solely on pecuniary factors. If they have indirect or commingled investments, they must inform their investment managers to ensure that investment decisions and voting are also based on these factors. This legislation aims to enhance transparency and accountability in the management of public funds, ensuring that financial decisions prioritize the interests of taxpayers.

Statutes affected:
Introduced Version: 35-320
House Engrossed Version: 35-320