A bill for an act relating to the investment of public funds, and making penalties applicable.(Formerly HSB 633.)

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Plain-English Summary

This bill allows political subdivisions to invest up to 25% of their public funds in a joint investment trust, with specific rules about who the trust can pay and requiring written acknowledgment of risks. It also permits uninsured public funds deposited through a financial institution to be invested in insured deposits or certificates of deposit from credit unions, regardless of location. Violations of these new rules could lead to criminal and civil penalties for the trust and public officials involved.

No official summary on file for this bill · generated by Gemini 2.5 Flash from its full text

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