SB 0322 Expands the investment authority of the State Treasurer
Committee:FINALR Number:L0610.01I
Last Action:02/06/95 - Referred S Financial & Governmental Operations Committee
Effective Date:Indefinite
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Current Bill Summary

SB 322 - This act revises the authority of the State Treasurer to invest state moneys. It is the implementing act for similar constitutional revisions proposed in SJR 20. The Treasurer may invest in: 1) time deposits of up to three years; 2) obligations of the U.S. government and its instrumentalities which mature within seven years; and 3) money market instruments, including certain bankers' acceptances, and money market mutual funds.

The act becomes effective if SJR 20 is approved by the voters. RONALD J. LEONE