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Lawmakers debate legacy fund disclosure bill; Retirement and Investment Office urges narrower drafting and defers to attorney general on proprietary data
Summary
Chairman Hedlund opened a hearing on House Bill 13‑19, a bill that would require a public legacy fund disclosure website.
Chairman Hedlund opened a hearing on House Bill 13‑19, which would require a legacy fund disclosure website listing investments and related information.
Representative Bernie Satrim, sponsor, told the House Finance and Tax Committee he brought the bill to increase transparency about the legacy fund’s holdings. "Today, I bring you a bill which asks for transparency on our legacy fund investments," Satrim said. He repeatedly identified concerns about specific past investments and said "we have 3,100,000,000.0 we really don't know about" in commingled funds and contracts that his testimony said limit disclosure.
The committee heard technical testimony from Jody Smith,…
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