On February 14, 2024, Legislative Director Kevin Kinnally testified before the Senate Budget and Taxation Committee in support of SB 776- State Investment Portfolio- Investment Standards with amendments.

This bill would modify the process for amending the State’s guidelines for investment of public funds. Since these standards apply by reference to local governments, counties seek an amendment to specify that such proposed changes would happen following consultation with affected local governments

From MACo Testimony:

MACo has offered amendment language to allow a consultation with affected local governments in advance of any such change, which the Office of the State Treasurer has accepted as friendly. MACo believes this consultation is appropriate and merited, and attends to our concerns of these secondary effects.

SB 776’s cross-file, HB 846, was heard on February 28, 2024 in the House Appropriations Committee. Michael Sanderson testified in support of this bill with amendments. SB 776 was heard in the opposite chamber, the House Appropriations Committee, on March 19. MACo submitted testimony in support of this bill with amendments.

More on MACo’s Advocacy:

• • • Follow MACo’s advocacy efforts during the 2024 legislative session on MACo’s Legislative Tracking Database
    • Learn more about MACo’s 2024 Legislative Initiatives
    • Read more General Assembly News on MACo’s Conduit Street blog