IN HB1336

Establishes a voluntary five star mortgage program administered by the department of financial institutions for creditors offering mortgages to Indiana customers with requirements including minimum 10% down payment, fixed interest rates, escrow accounts for taxes and insurance, maximum 30-year terms, and no prepayment penalties

Authorizes public employees' retirement fund (PERF) and other retirement accounts to invest in commingled or pooled funds consisting of mortgages qualifying as five star mortgages under the new program

Modifies public deposit investment rules to allow political subdivisions to invest in municipal securities issued by Indiana entities with no history of default in the preceding 20 years

Increases the maximum amount of anticipatory warrants the board for depositories may issue from $1.5 million to $300 million to cover insufficient insurance fund assets

Restructures the board for depositories membership to include legislative appointments (speaker of house and president pro tempore of senate) and establishes specific requirements for governor appointments based on depository type and asset size