Conference committee on House Bill 1022 removes two sections, keeps $25,000 for RIO training

Chairman Bosch opened the conference committee on House Bill 1022 and members agreed to remove sections 4 and 5 of the bill while keeping $25,000 for training related to the Retirement and Investment Office’s software.

The change follows discussion about whether an amendment to section 4 unintentionally shifted $50 million from the Legacy Fund principal into the in‑state investment program and about statutory reporting duplicates in section 5. Senator Davison said the apparent effect of the amendment was not the committee’s intention and that members had sought instead to shift internal allocations within the in‑state investment “sleeve.” Representative Meyer and other members expressed reluctance to accept the switch in allocations because of lost earnings.

The dispute centered on how the in‑state investment program is structured and on…