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MS HB1212
Bill
Status
3/5/2024
Primary Sponsor
Lee Yancey
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AI Summary
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Removes the $20 million limit on investments in bonds issued, assumed, or guaranteed by the Country of Israel from excess general and special state funds.
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Maintains requirements that Israeli bond investments must be denominated in United States currency and rated as investment grade by at least one nationally recognized statistical rating agency.
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Authorizes the State Treasurer to invest excess state funds in various securities including U.S. Treasury obligations, government agency obligations, certificates of deposit, corporate bonds, and Israeli bonds.
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Requires the State Treasurer and Executive Director of the Department of Finance and Administration to make monthly reports to the Legislative Budget Office detailing all invested funds, revenues derived, and expenses incurred.
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Takes effect July 1, 2024.
Legislative Description
Excess state funds; remove limit on maximum amount that may be invested in bonds assumed, issued or guaranteed by.
Last Action
Died In Committee
3/5/2024