SB1721 amends the Public Funds Investment Act to allow public agencies to invest in broad-based index funds.
SB1721 amends the Public Funds Investment Act to allow public agencies to invest in broad-based index funds that track the performance of a large group of stocks. The bill specifies that these investments must comply with existing safety and soundness guidelines and other relevant laws. It also reiterates restrictions on investments in repurchase agreements and outlines requirements for custodial banks. The bill aims to diversify investment options for public agencies while maintaining financial security.
Included in complete analysis
- Overview
- Core Provisions
- Implementation
- Impact
- Legal Framework
- Critical Issues
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