Expands permitted investments of school district and local unit funds.
The bill expands the types of securities within which a school district or a local unit of government may invest its funds. It allows for investments in U.S. Government securities, government money market mutual funds, local government investment pools, and other specified financial instruments, provided certain conditions are met. These conditions include restrictions on liquidity fees, redemption gates, and high price volatility. Additionally, it mandates that investment officials complete training sessions and attend investment training sessions to advise on permitted investments.
Included in complete analysis
- Overview
- Core Provisions
- Implementation
- Impact
- Legal Framework
- Critical Issues
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