A subcommittee of the Florida House Tuesday voted to allow the $176.6 billion Florida State Board of Administration to raise its combined allocation to foreign investments to 50% from 35%.
The bill, HB 811, will be referred to the House Appropriations Committee for consideration. It passed the Government Operations Subcommittee Tuesday in a 9-1 vote. A Senate bill is pending in the state Senate Banking and Insurance Committee.
The Tallahassee-based FSBA had a 29.76% allocation to foreign investments, including equities, fixed income and private equity, said John Kuczwanski, communications manager.
FSBA hasn't made plans to increase its allocation to the proposed limit.