A new bill filed by State Rep. Jones seeks to reorganize investment management in North Carolina by establishing an independent authority to oversee state funds and investment policies, according to the North Carolina State House.
The bill, filed as HB 506 on March 24 during the 2025 regular session, was formally listed with the short title: ‘2025 State Investment Modernization Act.-AB’
The following is our breakdown, based on the actual bill text, and may include interpretation to clarify its provisions.
In essence, this bill, known as the 2025 State Investment Modernization Act, aims to reorganize and update investment management within North Carolina by creating the North Carolina Investment Authority (NCIA). The NCIA will operate independently of the Department of State Treasurer and have powers such as acquiring real and personal property, suing, entering into contracts, and making investments specifically authorized under state law. The bill outlines the structure and responsibilities of the NCIA Board of Directors, which will oversee investment strategies, policies, and performance of funds like Retirement Systems, General Fund, and Escheats Fund, among others. The bill also mandates a focus on fiduciary duty and financial prudence in integrating environmental or social considerations only as they present material financial impacts. Effective July 1, 2025, certain sections, including those related to employee management and reporting requirements, will take effect, with the NCIA set to manage investments beginning Jan. 1, 2026.
Of the four sponsors of this bill, Kyle Hall proposed the most bills (22) during the 2025 regular session.
Bills in North Carolina follow a multi-step process before becoming law. A lawmaker starts by filing a bill, which is assigned to a committee for review. The bill must be read three times in each chamber. If one chamber changes the bill after the other passes it, both must agree on the final version. Once both chambers approve the same bill, it goes to the governor, who has 10 days (or 30 if the legislature is not in session) to sign, veto, or let it become law without a signature.
You can read more about the bills and other measures here.
Jones, a Republican, was elected to the North Carolina State House in 2017 to represent the state’s 46th House district, replacing previous state representative Ken Waddell.
| Authors | Bill Number | Date Filed | Title |
|---|---|---|---|
| Brenden H. Jones, Kyle Hall, Stephen M. Ross, and Steve Tyson | HB 506 | 03/24/2025 | 2025 State Investment Modernization Act.-AB |
| Brenden H. Jones, Jeffrey C. McNeely, Kyle Hall, and Mike Schietzelt | HB 469 | 03/20/2025 | Restoring Rivalries Act. |
| Brenden H. Jones, Stephen M. Ross, and Steve Tyson | HB 421 | 03/17/2025 | Motor Vehicle Dealers. |
| Brenden H. Jones, Stephen M. Ross, and Steve Tyson | HB 406 | 03/13/2025 | Clarify Motor Vehicle Dealer Laws. |
| Brenden H. Jones, A. Reece Pyrtle, Jr., Charles W. Miller, and Dudley Greene | HB 354 | 03/10/2025 | Civil Procedure/Gatekeeper Orders/Database. |
| Brenden H. Jones, A. Reece Pyrtle, Jr., Charles W. Miller, and Dudley Greene | HB 355 | 03/10/2025 | OSFM to Study Future of Rural Firefighting. |
| Brenden H. Jones, Frank Iler, Karl E. Gillespie, and Steve Tyson | HB 295 | 03/05/2025 | Req. DOT to Install Prop. Corner Markers. |
| Brenden H. Jones, Celeste C. Cairns, Howard Penny, Jr., and William D. Brisson | HB 296 | 03/05/2025 | Corn Farmer Recovery Act – Phase I. |
| Brenden H. Jones, Brian Echevarria, Carson Smith, and Destin Hall | HB 318 | 03/05/2025 | The Criminal Illegal Alien Enforcement Act. |
| Brenden H. Jones, Celeste C. Cairns, Kyle Hall, and Mike Clampitt | HB 276 | 03/04/2025 | Align Benefits for Firefighters with Cancer. |
| Brenden H. Jones, Brian Biggs, Brian Echevarria, and Neal Jackson | HB 244 | 02/27/2025 | Depoliticize Government Property Act. |
| Brenden H. Jones, Allen Chesser, Bill Ward, and Jarrod Lowery | HB 224 | 02/26/2025 | Strengthen Our Tribal Communities Act. |
| Brenden H. Jones, Carson Smith, and Jake Johnson | HB 218 | 02/25/2025 | Emergency Info on DMV Applications. |
| Brenden H. Jones | HB 220 | 02/25/2025 | Tabor City/Certain Public Enterprise Funds. |
| Brenden H. Jones | HB 221 | 02/25/2025 | Tabor City/Railroad Revitalization Project. |
| Brenden H. Jones, Jake Johnson, Jarrod Lowery, and Matthew Winslow | HB 222 | 02/25/2025 | C.O.O.P.E.R. Accountability Act. |
| Brenden H. Jones, Blair Eddins, Jarrod Lowery, and Neal Jackson | HB 171 | 02/21/2025 | Equality in State Agencies/Prohibition on DEI. |
| Brenden H. Jones | HB 116 | 02/12/2025 | Local Bd. of Ed. Election Changes. |
| Brenden H. Jones, Allen Chesser, Heather H. Rhyne, and Jay Adams | HB 35 | 02/03/2025 | Establish Military Appreciation Month. |
