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Introduced Senate Bill (S)

DIGEST

Next level Indiana fund. Makes changes to the next level Indiana trust fund to strengthen legislative oversight. Adds one legislative member to the fund investment board appointed by the speaker of the house of representatives and one legislative member appointed by the president pro tempore of the senate. Provides that five members of the board constitute a quorum (rather than three, under current law). Provides that money in the trust may be invested in investments that direct all investments into Indiana based funds or funds that have opened or agree to open and operate an Indiana office, and Indiana based Next level Indiana fund. Makes changes to the next level Indiana trust fund to strengthen legislative oversight. Adds one legislative member to the fund investment board appointed by the speaker of the house of representatives and one legislative member appointed by the president pro tempore of the senate. Provides that five members of the board constitute a quorum (rather than three, under current law). Provides that money in the trust may be invested in investments that direct all investments into Indiana based funds or funds that have opened or agree to open and operate an Indiana office, and Indiana based companies. Provides that any out-of-state funds that receive investments must direct all investment dollars into Indiana based companies. Provides that an established function of the fund is to support the formation of new Indiana based funds and fund managers. ... View more