Iowa HF2592 amends investment regulations for public funds, allowing uninsured portions to be invested in insured deposits or certificates of deposit.

Iowa HF2592 modifies the investment rules for public funds, enabling the uninsured portion of such funds to be invested in insured deposits or certificates of deposit issued by credit unions. The bill also mandates that political subdivisions execute a written acknowledgment before depositing or investing public funds with a joint investment trust. This acknowledgment must confirm that the funds are not insured by any government entity and that the safety of the funds depends on the investment performance and management of the joint investment trust.

Iowa HF2592 amends investment regulations for public funds, allowing uninsured portions to be invested in insured deposits or certificates of deposit.

Iowa HF2592 modifies the investment rules for public funds, enabling the uninsured portion of such funds to be invested in insured deposits or certificates of deposit issued by credit unions. The bill also mandates that political subdivisions execute a written acknowledgment before depositing or investing public funds with a joint investment trust. This acknowledgment must confirm that the funds are not insured by any government entity and that the safety of the funds depends on the investment performance and management of the joint investment trust.