HB 109 Summary

• Repeals sections 30.260, 30.750, 30.758, 30.767, 30.810, and 30.860 of Missouri Revised Statutes and enacts five new sections relating to linked deposits.

• Establishes that the State Treasurer must maintain a written investment policy with an asset allocation plan limiting time deposits with any single banking institution to no more than 10% of all state time deposits.

• Eliminates the restriction on linked deposit investments after December 31, 2015, allowing the State Treasurer to continue investing in linked deposits for eligible recipients beyond that date (previously limited to water supply systems and student borrowers only).

• Modifies the previous prohibition on new eligible facility borrower linked deposits after January 1, 2020, while maintaining the restriction from applying to extensions of existing loans.

• Defines 26 categories of eligible borrowers for linked deposit programs, including beginning farmers, small businesses, agribusinesses, alternative energy operations, and various other agricultural and economic development entities.