BILL NUMBER: SB 1271	INTRODUCED
	BILL TEXT


INTRODUCED BY   Senator Romero

                        FEBRUARY 19, 2010

   An act to add Section 7508.2 to the Government Code, relating to
public retirement plans.


	LEGISLATIVE COUNSEL'S DIGEST


   SB 1271, as introduced, Romero. Public retirement plans: conflicts
of interest.
   The Political Reform Act requires state and local government
agencies to adopt and promulgate a Conflict of Interest Code.
Regulations found in the California Code of Regulations constitute
the California Public Employees' Retirement System's Conflict of
Interest Code.
   This bill would codify those regulations and make them applicable
to all public retirement boards.
   Vote: majority. Appropriation: no. Fiscal committee: yes.
State-mandated local program: no.


THE PEOPLE OF THE STATE OF CALIFORNIA DO ENACT AS FOLLOWS:

  SECTION 1.  Section 7508.2 is added to the Government Code, to
read:
   7508.2.  (a) The purpose of this Conflict of Interest Code is to
facilitate the disclosure of the economic interests of public
officials serving any public retirement system that may be materially
affected by the actions of the retirement boards in which they
participate.
   (b) Designated employees, consultants, board members, and
candidates shall file statements of economic interests with the
retirement board's filing officer. With respect to certain employees
and officials such as board members who are determined to manage
public investments, within the meaning of Section 87200, the
retirement system shall make and retain a copy and forward the
original of these statements to the Fair Political Practices
Commission. Public officials who manage investments are listed for
clarity in the appendix of Section 560 of Title 2 of the California
Code of Regulations. Unlike the designated employees, these officials'
reporting obligations are not limited by reference to a reporting
category.
   (c) This provision incorporates by reference Sections 560 and
18730 of Title 2 of the California Code of Regulations, and any
amendments to it duly adopted by the Fair Political Practices
Commission. Those regulations along with the attached appendix in
which officials and employees are designated and disclosure
categories are set forth, constitute the Conflict of Interest Code
for all public retirement boards.