The bill outlines amendments to existing legislation concerning the management and reporting of investment holdings by the Pension Reserves Investment Trust (PRIT). It introduces new legal language that mandates detailed reporting of investment holdings as of March 31, including specific financial metrics such as the number of shares held, their market value, and performance metrics. The bill aims to enhance transparency and accountability in the management of pension funds, ensuring that stakeholders have access to comprehensive information about the trust's financial activities and investment strategies.

Additionally, the bill specifies the budgetary framework for the fiscal year 2025, detailing various categories of fees associated with investment management and operational expenses. It projects total investment management fees at $504,337,000, with allocations for different investment strategies, and operational expenses estimated at $28,658,000. The bill also emphasizes the importance of diversity in investment management by introducing a program for emerging diverse managers, reflecting a commitment to inclusive investment practices. Overall, the proposed changes aim to improve the governance and efficiency of the PRIT while safeguarding the interests of beneficiaries.