MI HB6155

Expands authorized investments for public corporations to include dollar-denominated debt securities from federal agencies and enterprises (GNMA, FNMA, FHLMC, Federal Home Loan Banks, Farmer Mac, TVA, SBA, FFCB, and Export-Import Bank).

Adds new investment option for corporate bonds rated A or higher with maturities up to 5 years, limited to 25% of public funds and 5% per issuer, requiring either a fiduciary relationship with registered advisers or qualified institutional buyer status with approved financial certifications.

Requires public corporations to file their investment policies annually with the Michigan Department of Treasury beginning one year after the effective date of this amendment.

Modifies special revenue fund provisions to expand eligible fund types from park operations and maintenance only to include perpetual maintenance of public buildings and facilities, allowing same fiduciary investment authority as public employee retirement system investments.

Updates cross-references in trust fund and special revenue fund provisions to reflect current statute citations (MCL 38.1141 instead of 38.1140m) and makes technical language revisions throughout.