| 1 | A bill to be entitled |
| 2 | An act relating to the City of Jacksonville, Duval County; |
| 3 | amending chapter 92-341, Laws of Florida, as amended; |
| 4 | increasing the permitted rate of investment in fixed real |
| 5 | estate assets by the Jacksonville Police and Fire Pension |
| 6 | Board of Trustees; providing an effective date. |
| 7 |
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| 8 | Be It Enacted by the Legislature of the State of Florida: |
| 9 |
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| 10 | Section 1. Paragraph (2) of subsection (b) of section |
| 11 | 22.04 of article 22 of section 1 of chapter 92-341, Laws of |
| 12 | Florida, as amended by chapter 2005-330, Laws of Florida, is |
| 13 | amended to read: |
| 14 | Section 22.04. General powers.--The board shall have the |
| 15 | power to: |
| 16 | (b) Invest and reinvest the assets of the pension fund in: |
| 17 | (2) Notwithstanding anything to the contrary in the |
| 18 | applicable provisions of s. 215.47, Florida Statutes, |
| 19 | investments in fixed real estate estates assets, shall not to |
| 20 | exceed 20 10 percent of the assets of the plan, at cost. |
| 21 | Section 2. This act shall take effect upon becoming a law. |