Housing and redevelopment agencies can invest in long-term equity and index mutual funds, with specific criteria.

Housing and redevelopment agencies in Minnesota are authorized to utilize certain long-term equity investment authority. Qualifying governments may invest in index mutual funds based in the United States and indexed to a broad market United States equity index, or in shares of a company registered with the United States Securities and Exchange Commission. The bill modifies investment types in which a qualifying government may invest.

Housing and redevelopment agencies can invest in long-term equity and index mutual funds, with specific criteria.

Housing and redevelopment agencies in Minnesota are authorized to utilize certain long-term equity investment authority. Qualifying governments may invest in index mutual funds based in the United States and indexed to a broad market United States equity index, or in shares of a company registered with the United States Securities and Exchange Commission. The bill modifies investment types in which a qualifying government may invest.