California AB2080 allows county treasurers to invest county funds under certain conditions.

California AB2080 amends the Government Code to allow county boards of supervisors to delegate investment authority to county treasurers. The treasurer can invest county funds and other depositor funds in the county treasury, provided they meet specific reporting requirements. The bill also outlines investment restrictions and objectives for local agencies, emphasizing safeguarding principal and meeting liquidity needs. The provisions become operative if both AB2080 and Senate Bill 1438 are enacted and effective by January 1, 2027.

California AB2080 allows county treasurers to invest county funds under certain conditions.

California AB2080 amends the Government Code to allow county boards of supervisors to delegate investment authority to county treasurers. The treasurer can invest county funds and other depositor funds in the county treasury, provided they meet specific reporting requirements. The bill also outlines investment restrictions and objectives for local agencies, emphasizing safeguarding principal and meeting liquidity needs. The provisions become operative if both AB2080 and Senate Bill 1438 are enacted and effective by January 1, 2027.