A-1066

“Forbids members of the State Investment Council from voting on transactions concerning investment with which a member has certain financial or familial conflicts and requires removal for violations thereof.”

NJEA supports A-1066 (DeCroce, Chiusano, DeCroce, B., Barnes & Burzichelli).  This legislation forbids members of the State Investment Council from voting on transactions concerning investment with which a member has certain financial or familial conflicts and requires a member to be removed from the council for votes cast in violation of that restriction. 

The appearance of a conflict of interest is present if there is a potential for the personal interests of a trustee to clash with their fiduciary duties as a member of the State Investment Council.  This legislation will protect the public interest by specifying when a trustee must refrain from voting on a transaction.

NJEA asks you to support A-1066.