SB 1454 - Brown (16), Justin
Modifies provisions relating to investment of moneys by county hospitals
Bill Details
Sponsor
LR Number
5853S.01I
Title
SB 1454
House Handler
N/A
Journal Page
Effective Date
August 28, 2024
Committee
Current Status
Second Read and Referred S Health and Welfare Committee
Quick Links
Amendments
No amendments available
CURRENT BILL SUMMARY
SB 1454 - Current law authorizes certain boards of trustees of county hospitals located in Boone County to invest up to 15% of funds not required for immediate disbursement or needed for the operation of the hospital into any mutual fund. This act modifies this law by expanding it to include any county hospital that receives less than 1% of its annual revenues from county or state taxes, as well as removes the 15% cap on funds that may be invested and allows such funds to be invested in a variety of stocks, bonds, and money-market investments without needing to invest in mutual funds.
This act is identical to HB 1665 (2024) and similar to a provision in the truly agreed to and finally passed HCS/SS/SB 1359 (2024).
SARAH HASKINS