SB3086 amends the Deposit of State Moneys Act to expand the types of investments the State Treasurer can make with state funds.

SB3086 modifies the Deposit of State Moneys Act to allow the State Treasurer to invest state funds in various financial instruments, including private placement fixed income securities, municipal bonds, and government securities. The bill specifies conditions for these investments, such as credit ratings and asset thresholds. It also allows for investments in certain financial institutions and community development entities. The State Treasurer can invest funds not needed for immediate expenditures or set aside for bond payments. The bill takes effect immediately upon becoming law.

SB3086 amends the Deposit of State Moneys Act to expand the types of investments the State Treasurer can make with state funds.

SB3086 modifies the Deposit of State Moneys Act to allow the State Treasurer to invest state funds in various financial instruments, including private placement fixed income securities, municipal bonds, and government securities. The bill specifies conditions for these investments, such as credit ratings and asset thresholds. It also allows for investments in certain financial institutions and community development entities. The State Treasurer can invest funds not needed for immediate expenditures or set aside for bond payments. The bill takes effect immediately upon becoming law.