This bill proposes to amend the existing statute regarding the Public Safety Personnel Retirement System (PSPRS) by clarifying the ownership limitations on voting stock. Under current law, the PSPRS is restricted to owning not more than five percent of the voting stock of any one corporation. The bill updates this language to specify that this limitation applies only to "publicly traded" corporations, thereby excluding private companies from this restriction.

Additionally, the bill maintains the existing exception for membership interests in limited liability companies, ensuring that the PSPRS can still invest in such entities without being subject to the five percent limitation. Overall, the changes aim to provide clearer guidelines for the investment practices of the PSPRS while allowing for greater flexibility in its investment portfolio.

Statutes affected:
Introduced Version: 38-848
House Engrossed Version: 38-848