S.1283

Establishes the Citizens Fund to facilitate the conveyance of public entity assets for the benefit of public benefit plans.

The Citizens Fund Act establishes the Citizens Fund as a trust fund to manage and convey certain public entity assets for the benefit of public benefit plans. The fund can accept assets from public entities, which must be valued by an independent valuation agent. The fund board, appointed by the Governor, oversees the fund's operations and ensures assets are managed for maximum long-term value. The fund can enter into agreements with capable private or public entities to lease or sell assets under certain conditions.