Sunday, September 28, 2008

California's UPMIFA - is it a "high priority" bill?

California's version of UPMIFA, the Uniform Prudent Management of Institutional Funds Act, passed both houses and was sent to the Governor on September 17.  (For the bill's history, go here.) The Governor refused to sign any bills until the legislature passed a budget.  With the budget passed, the Governor has now signed 114 bills, the LA Times reports today.  The LA Times article notes that Schwartzenegger vetoed 95 bills, saying that at this point he would only sign those bills he considered "the highest priority for California."  Is UPMIFA a high priority or a bill that can wait until next session?  The legislative website has not been updated, so unless a reader knows what happened, we'll have to wait until tomorrow to learn the bill's fate.  Stay tuned.

sng

http://lawprofessors.typepad.com/nonprofit/2008/09/californias-upm.html

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