SB 545 Allows certain county hospitals to invest 15% of their funds in mutual funds
Sponsor: Schaefer
LR Number: 2341S.01I Fiscal Notes
Committee: Jobs, Economic Development and Local Government
Last Action: 3/18/2015 - Second Read and Referred S Jobs, Economic Development and Local Government Committee Journal Page: S607
Title: Calendar Position:
Effective Date: August 28, 2015

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Current Bill Summary

SB 545 - This act allows the board of trustees of any authorized county hospital to invest up to 15% of the hospital's funds not required for immediate disbursement for obligations or operations into any mutual fund.

The provisions of this act shall only apply if the hospital: (1) is located within a county of the first classification with more than 150,000 but fewer than 200,000 inhabitants and (2) receives less than 1% of its annual revenues from county or state taxes.

This act is identical to HB 884 (2015) and substantially similar to HCS/HB 884 (2015).