An Act relative to pay-to-play schemes
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Progress
Where this bill stands in the legislative process.
- Introduced
- Passed House
- Passed Senate
- To Governor
- Became Law
Overview
This bill addresses potential conflicts of interest related to political contributions from investment advisors who manage funds for public entities in Massachusetts. It aims to prevent situations where financial support from these advisors could influence decisions made by government officials or agencies. The legislation seeks to increase transparency and accountability in these interactions, ensuring that public funds are not used to benefit private interests. Specifically, it focuses on regulating contributions from investment advisors working with state and local government entities.
Key provisions
- Establishes restrictions on political contributions from investment advisors.
- Focuses on investment advisors managing funds for public entities.
- Aims to prevent ‘pay-to-play’ schemes.
- Requires greater transparency in political contributions.
- Relates to election laws.
- Addresses contributions by investment advisors.
- Seeks to align investment advisor activities with public interest.
- Creates a framework for regulating financial relationships between public entities and investment advisors.
Who is affected
- Investment advisors
- Public entities (state and local governments)
- Government officials
- Massachusetts residents
- Political donors
Notable changes
- Addresses potential conflicts of interest arising from investment advisor contributions.
Bill text
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Sponsors
Official sponsors from legislative records.
5 on record
Primary sponsor
Bradley H. Jones Jr.
Cosponsors
Bradley H. Jones Jr.
Kimberly N. Ferguson
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