Montana legislation · 2025 Regular Session
Montana SB459: Revise laws related to investments made by the board of investments
Status: Failed, May 23, 2025
What the bill says
A bill for an act limiting state investment in securities that are not accountable; mandating divestment from unaccountable securities; providing definitions; and providing an effective date.".
From the engrossed text:
A BILL FOR AN ACT LIMITING STATE INVESTMENT IN SECURITIES THAT ARE NOT ACCOUNTABLE; MANDATING DIVESTMENT FROM UNACCOUNTABLE SECURITIES; PROVIDING DEFINITIONS; AND PROVIDING AN EFFECTIVE DATE." BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF MONTANA: NEW SECTION. Section 1. Sound and verifiable investments by board. (1) The purpose of this section is to ensure that constitutional principles set forth in Article VIII, section 13, of the Montana Constitution requiring prudent, safe, and conservative investments are met. (2) The board may not invest in a security listed on an exchange in a jurisdiction in which the federal public company accounting oversight and (b) is prevented from conducting an inspection required by federal law because of a law or policy of an authority in the jurisdiction. (3) The board shall consult with the securities and exchange commission on a biennial basis in order to ensure compliance with subsection (1). (4) The board shall divest from securities in which investment is precluded by subsection (1): (a) when divestment can be achieved without a loss of capital or revenue; or (b) whenever prudent. (5) As used in this section, the following definitions apply: (a) "Board" means the Montana board of investments. (b) "Registered public accounting firm" has the meaning provided in 15 U.S.C. 7201, as of March 1, 2025. - 1 - …
Sponsors
- Bogner, Kenneth (R, 18) · primary sponsor
Latest actions
- : (S) Died in Process
- : (S) Missed Deadline for General Bill Transmittal
- : (S) Tabled in Committee
- : (S) Hearing
- : (S) Fiscal Note Printed
- : (S) Fiscal Note Unsigned
- : (S) Fiscal Note Received
- : (S) 1st Reading
- : (S) Fiscal Note Requested
- : (S) Referred to Committee
Subjects: Financial Institutions
Common questions
- What is SB459?
- SB459 is a bill in the Montana Legislature (2025 Regular Session): Revise laws related to investments made by the board of investments.
- What does SB459 do?
- In its own words: A bill for an act limiting state investment in securities that are not accountable; mandating divestment from unaccountable securities; providing definitions; and providing an effective date.".
- What is the status of SB459?
- Failed as of May 23, 2025. Latest action: (S) Died in Process (May 23, 2025).
- Who sponsored SB459?
- Bogner, Kenneth (R, 18).
- Where is the official record for SB459?
- On the Montana Legislature website: https://bills.legmt.gov/#/laws/bill/2/LC0772
Source: official Montana record. Tracked by Delilah, AI for legislation across all 50 states and Congress.