The bill amends Chapter 35-10 of the General Laws by introducing a new section, 35-10-16, which establishes a "capital access initiative" aimed at increasing the participation of traditionally disadvantaged investment managers in the management of the state pension fund. The State Investment Commission is required to adopt a policy by January 1, 2026, that includes quantifiable goals for the initiative, focusing on removing barriers to participation for underrepresented investment managers. The bill specifies that at least 10% of the investment managers managing the state pension fund should be qualified through this initiative.

Additionally, the bill mandates that starting in fiscal year 2027, the General Treasurer must prepare and submit a report detailing progress towards the initiative's goals to the commission and relevant legislative leaders. The report will document all participants in the capital access initiative, which is defined to include investment managers that are at least 51% owned or controlled by minorities or women. The initiative aims to enhance the diversity of investment management for the state's pension fund while ensuring adherence to sound investment policies and fiduciary prudence.