"Citizen's Fund Act"; establishes trust fund for conveyance of certain public entity assets, as permitted, for interest of public benefit plans.
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Progress
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- Introduced
- Passed Senate
- Passed General Assembly
- To Governor
- Became Law
Overview
The Citizen’s Fund Act establishes a trust fund to accept assets from public entities, as permitted, and use them to benefit public benefit plans. The fund will be overseen by a board and operate in accordance with federal tax laws. It aims to lessen the burdens on government by transferring revenue-producing assets and maximizing their long-term value. This transfer can increase the funded ratio of public pension plans.
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