Hawaii SB69 regulates the deposit of public funds, prioritizing local depositories and limiting out-of-state deposits.

Hawaii SB69 amends the state's depository practices for public funds. It mandates that the director of finance prioritize local depositories when selecting where to deposit state funds, considering factors like beneficial effects to the state and safety. The bill limits out-of-state deposits to no more than 40% of the total funds available for deposit. It also allows for higher deposits in local depositories if they offer a higher yield, up to 60% of the total funds.

Hawaii SB69 regulates the deposit of public funds, prioritizing local depositories and limiting out-of-state deposits.

Hawaii SB69 amends the state's depository practices for public funds. It mandates that the director of finance prioritize local depositories when selecting where to deposit state funds, considering factors like beneficial effects to the state and safety. The bill limits out-of-state deposits to no more than 40% of the total funds available for deposit. It also allows for higher deposits in local depositories if they offer a higher yield, up to 60% of the total funds.