IN HB1281

Legislative Description

Local government investments. Provides that a political subdivision (other than a township) is not required to deposit funds on the next business day following receipt of the funds if the funds on hand do not exceed $500. (Under current law, a political subdivision (other than a township) must deposit funds not later than the next business day following the receipt of the funds regardless of the amount.) Increases the current threshold amount for the legislative branch to be required to deposit funds on the next business day from $100 to $500. Provides that if the proceeds from the sale of

Last Action

Committee Referrals