House Bill 2213 introduces new requirements for the handling of public funds by the State Treasurer of Arizona. The bill mandates that the State Treasurer must post a current list of state investments and investment managers on its publicly accessible website and update any changes within a reasonable period of time. It also specifies that all state investments must be made in the sole interest of the beneficiary taxpayer and that the evaluation of investments must be based on pecuniary factors, which are defined as factors materially affecting the financial risk or return of an investment.

The bill further outlines that governmental entities maintaining plans must make investment decisions and vote directly held shares based solely on pecuniary factors. If a governmental entity has indirect or commingled investments, it must notify the general partner or investment manager to make investment decisions and vote directly held shares proportionally based solely on pecuniary factors. Definitions for "pecuniary factor" and "plan" are included, with plans covering retirement income, deferred employee income, or any investment of taxpayer monies.

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