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Bill Detail: HB19-1179

 

Title Public Fund Investments
Status House Third Reading Passed - No Amendments (03/20/2019)
Bill Subjects
  • Fiscal Policy & Taxes
House Sponsors M. Gray (D)
Senate Sponsors P. Lee (D)
House Committee Finance
Senate Committee
Date Introduced 02/14/2019
Description

The bill modifies statutes governing the legal investments of
public funds as follows:
  • Allows public entities to invest in the federal agricultural
mortgage corporation;
  • Modifies and standardizes the credit rating requirements
for securities invested in by public entities;

  • Requires rating requirements to first apply to the security
being purchased by a public entity and, if there is no such
rating, to then apply to the issuer;
  • Clarifies that negotiable certificates of deposit are a legal
investment and not deposits subject to the limitation of the
Public Deposit Protection Act;
  • Includes the secured overnight financing rate as an
allowable index; and
  • Allows public entities to invest in local government
investment pools.

Committee Reports
with Amendments
Full Text
Full Text of Bill (pdf) (most recent)
Fiscal Notes Fiscal Notes (02/22/2019) (most recent)  
Additional Bill Documents Bill Documents
Including:
  • Past bill versions
  • Past fiscal notes
  • Committee activity and documents
  • Bill History
 
Lobbyists Lobbyists
Audio  
Votes House and Senate Votes
Vote Totals Vote Totals by Party
 
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