Get Full Government Meeting Transcripts, Videos, & Alerts Forever!
Panel hears bill to bar NHRS from investing in businesses owned by a sitting president; members raise drafting, index-fund concerns
Summary
Supporters of HB 10-24 told the committee the change would prevent conflicts or appearances of favoritism, while members and witnesses raised concerns that the bill as drafted could force the retirement system to avoid common index funds or require costly offsets; no vote was taken and the committee did not act.
Representative Tony Kaplan introduced HB 10-24 on Jan. 14, a bill that would prohibit the New Hampshire Retirement System from investing in businesses owned entirely or in majority by a sitting U.S. president or their immediate family.
Kaplan described the bill as a preventive measure to avoid the appearance of corruption or pressure on fiduciaries when federal executive power intersects with private business interests. "HB 10-24 is a proactive measure enabling the retirement system to steer clear of any…
Already have an account? Log in
Subscribe to keep reading
Unlock the rest of this article — and every article on Citizen Portal.
- Unlimited articles
- AI-powered breakdowns of topics, speakers, decisions, and budgets
- Instant alerts when your location has a new meeting
- Follow topics and more locations
- 1,000 AI Insights / month, plus AI Chat
