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REFERENCE TITLE: treasurer's risk reports; technical correction |
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State of Arizona House of Representatives Forty-seventh Legislature Second Regular Session 2006
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HB 2604 |
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Introduced by Representative Boone
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AN ACT
amending section 35-319, arizona revised statutes; relating to state treasurer security reports.
(TEXT OF BILL BEGINS ON NEXT PAGE)
Be it enacted by the Legislature of the State of Arizona:
Section 1. Section 35-319, Arizona Revised Statutes, is amended to read:
35-319. Reports; global security risk
A. The state treasurer shall submit a report on or before January 10 and July 10 of each year to the senate finance committee and the house of representatives government and retirement committee, or their successor committees, on the economic impact of global security risks of investments of state monies, including:
1. A list of those companies that are held in portfolio by the state treasurer, if the state treasurer can make such a determination from public information, and that have or that are reasonably known by the state treasurer to have business activities in or with countries identified as those countries currently designated pursuant to section 6(j) of the export administration act (50 United States Code App. section 2405) as supporting international terrorism.
2. A summary description of the business activities of those companies identified in paragraph 1 if the state treasurer can make such a determination.
3. The total amount invested in each company identified in paragraph 1 as of ninety days before the report is submitted.
4. An assessment by the state treasurer based on the prudent investor rule of the level of the global security risk attributable to the investments.
B. If a report fails to provide any of the required information, the state treasurer shall explain the reasons why the information was not provided.