Investment Priority Proposed For NJ Infrastructure Projects

Law360, New York (April 30, 2013, 6:49 PM EDT) -- New Jersey Assembly members on Monday introduced legislation to codify a preference for in-state infrastructure projects over similar, out-of-state projects when it comes to investments by the state's pension fund — a move that they contend will help provide steady returns for the fund but also broader economic benefits.

To accomplish that goal, the legislation would change statutory language covering the powers of the director of the state Division of Investment, an offshoot of the state Treasury Department that handles investment management for the seven pension...
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