MS SB2483

Amends Section 27-105-5, Mississippi Code of 1972, to define "investment quality" for bonds deposited with the State Treasurer as security for state public funds.

Defines "investment quality" to mean that the bond obligor has adequate capacity to meet its financial commitments even if adverse economic conditions or changing circumstances are likely to weaken its capacity to do so.

Applies the investment quality requirement to bonds authorized under paragraphs (c), (d), and (e) of the qualified bonds definition, which include Tennessee Valley Authority obligations, Mississippi state and political subdivision bonds, and general obligations of other states rated "A" or better.

Maintains existing requirement that bonds rated substandard by supervisory authorities or national rating agencies cannot be pledged as security by qualified state depositories.

Takes effect July 1, 2018.