SB 1416 Virginia Senate · 2017 Regular Session

Investment of Public Funds Act; investment of public funds in Virginia Investment Pool Trust Fund.

Summary

Authorizes a treasurer to act on behalf of his locality to become a participating political subdivision in qualified investment pools without an ordinance adopted by the locality. The bill defines a qualified investment pool as a jointly administered trust fund that has a professional investment manager. Investments in qualified investment pools pursuant to the bill are required to comply with the requirements of the Investment of Public Funds Act (§ 2.2-4500 et seq.) applicable to municipal corporations and other political subdivisions. The bill states that none of its provisions shall be construed to diminish existing legal authority of treasurers related to the investment of public funds. This bill is identical to

Bill status passed 4 of 5 stages cleared

Introduction

Jan 2017

Committee Review

Feb 2017

Senate Passage

Feb 2017

House of Delegates Passage

Apr 2017

Governor

Introduced Jan 11, 2017 Last action Apr 5, 2017

Floor votes

How they voted

This bill passed the Senate by voice vote (no roll call recorded).

Full legislative history

Actions timeline

Total actions

Key actions

Committee

Apr 5, 2017

Executive · Passed

Governor's recommendation adopted

executive

Apr 5, 2017

Legislature · Passed

House concurred in Governor's recommendation (99-Y 0-N)

legislature

Feb 16, 2017

Legislature · Passed

Passed House with substitute (95-Y 2-N)

legislature

Feb 16, 2017

Legislature · Passed

Engrossed by House - committee substitute SB1416H1

legislature

Feb 15, 2017

Legislature · Passed

Passed by for the day

legislature

Feb 8, 2017

Committee

Referred to Committee on Finance

legislature

Jan 11, 2017

Committee

Referred to Committee on Finance

legislature

Jan 11, 2017

Introduced

Presented and ordered printed 17103326D

legislature

1 primary · 0 co-sponsors