HI HB2547

Adds short-term investment grade corporate bonds to the list of authorized investments for the Director of Finance when investing excess state treasury funds

Investment grade corporate bonds currently yield an average of 4-6% according to national investment research, and carry relatively low credit risk

Amends Section 36-21 of Hawaii Revised Statutes by adding a new category (16) for short-term investment grade corporate bonds

All authorized investments must mature within five years from the date of investment

Effective date is July 1, 3000