Supranational Investing Bill Heard in House

MACo Research Director, Robin Clark Eilenberg testified in support of SB 1119, State Treasurer – Supranational Issuers, to the House Appropriations Committee on April 5, 2016.

SB 1119 would authorize the State Treasurer and county government investment officers to invest in top-rated supranational issuances, including AAA securities. MACo offered testimony in support of the legislation on March 17, 2016 in the Senate Budget and Taxation Committee.

From the MACo testimony,

The legislation would modestly broaden options for the Treasurer in investing local government insurance trust funds, which could benefit counties who invest via the Local Government Investment Pool, managed by the Treasurer. Since local governments doing their own investing are bound by these same standards, SB 1119 would grant them the same option and benefit.

This bill passed the Senate (44-0) on March 21, 2016.

For more on 2016 legislation of importance to counties, visit the MACo Legislative Database.