Florida Senate - 2012 CS for SB 880
By the Committee on Governmental Oversight and Accountability;
and Senator Ring
585-02466-12 2012880c1
1 A bill to be entitled
2 An act relating to state investments; amending s.
3 215.47, F.S.; increasing the amount of money that may
4 be invested in alternative investments by the State
5 Board of Administration; providing an effective date.
6
7 Be It Enacted by the Legislature of the State of Florida:
8
9 Section 1. Subsection (15) of section 215.47, Florida
10 Statutes, is amended to read:
11 215.47 Investments; authorized securities; loan of
12 securities.—Subject to the limitations and conditions of the
13 State Constitution or of the trust agreement relating to a trust
14 fund, moneys available for investments under ss. 215.44-215.53
15 may be invested as follows:
16 (15) With no more, in the aggregate, than 20 10 percent of
17 any fund in alternative investments, as defined in s.
18 215.4401(3)(a)1., through participation in an alternative
19 investment vehicle as those terms are the vehicles defined in s.
20 215.4401(3)(a)2., or in securities or investments that are not
21 publicly traded and are not otherwise authorized by this
22 section.
23 Section 2. This act shall take effect July 1, 2012.