AZ HB2078

Amends Arizona Revised Statutes Section 35-326 to clarify language governing the state treasurer's management of pooled investment funds for state and local entities.

Modifies the definition of "political subdivision" to explicitly include cities, towns, counties, school districts, community college districts, and other state-organized entities eligible to deposit monies with the state treasurer.

Changes language from "which" to "that" for grammatical consistency and replaces "the adoption of" with "adopting" in provisions describing how governing bodies authorize investment of funds.

Clarifies that political subdivisions and public trusts "may" authorize the state treasurer to invest funds through a resolution, standardizing the discretionary nature of participation.

Effective date: approved by the Governor on March 26, 2019.