This bill proposes to amend current statutes regarding the investment limitations of the Public Safety Personnel Retirement System (PSPRS). Specifically, it would clarify that the existing cap on ownership of voting stock—currently set at no more than five percent for any one corporation—applies exclusively to publicly traded corporations. This change aims to provide clearer guidelines for the investment practices of PSPRS and ensure compliance with modern investment standards.

The bill would insert the term "publicly traded" before "corporation" in the relevant statute, thereby refining the definition of the corporations to which the five percent ownership cap applies. The current language regarding the ownership limitation remains unchanged, except for this specific insertion. Overall, the bill seeks to enhance the regulatory framework governing PSPRS investments without altering the fundamental restrictions already in place.

Statutes affected:
Introduced Version: 38-848