MS HB1293

Expands the College Savings Plans of Mississippi Board of Directors' authority to invest in taxable municipal bonds, convertible bonds, agency and nonagency mortgage-backed securities, and bonds issued by the State of Israel.

Increases maximum stock investments from 50% to 70% of total fund book value and raises individual corporation investment limits from 3% to 5% of fund assets.

Authorizes investments in non-United States company stocks and convertible securities, foreign government securities of investment grade, and allows use of foreign exchange derivatives for hedging.

Increases real estate fund investment limits from 5% to 10% and alternative investments limit from unspecified to 10% of total fund book value.

Increases foreign investment limits from 20% to 30% of total fund book value and adds authority for separate account investments not specifically listed in statute, up to 10% of fund value.