treasurer; qualified Arizona-based investment managers

Summary

The legislation changes the treasurer’s duties so that a minimum of ten percent of trust and treasury money must be invested with qualified Arizona‑based managers from a list kept by the Arizona Commerce Authority. It also expands the authority’s ability to enter contracts, collect fees, manage out‑of‑state offices, and report on economic‑development results. The goal is to keep more investment dollars in‑state and strengthen the state’s economic‑development infrastructure.

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