AZ HB2734

Amends Arizona Revised Statutes section 35-323 to require that at least 50% of public monies invested by the state treasurer be invested in state-chartered banks.

Gives preference to state-chartered banks when awarding certificate of deposit bids at identical interest rates and when making awards under competitive bidding procedures.

Maintains existing investment requirements that public monies have a maximum maturity of five years and must be invested in eligible securities and deposits.

Preserves all current eligible investment options including certificates of deposit, repurchase agreements, U.S. Treasury obligations, municipal bonds, commercial paper, and investment funds.