Bill
HB 1003
85(R) - 2017
House Investments & Financial Services
Senate Business & Commerce
House Investments & Financial Services
Senate Business & Commerce
Finance
Vote Recommendation
Neutral
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Neutral
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Neutral
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Neutral
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Neutral
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Neutral
Author(s)
Giovanni Capriglione
Sponsor(s)
Royce West
Bill Caption
Relating to investment of public funds.
Fiscal Notes
The bill would authorize eligible entities to expand investment options including investing in hedging contracts and insurance agreements. Depending upon the investment decisions that would be made by eligible entities, there could be an indeterminate financial impact to the state.
Bill Analysis
HB 1003 would add interest-bearing banking deposits that are guaranteed or insured by the Federal Deposit Insurance Corporation or the National Credit Union Share Insurance Fund as another authorized investment of public funds. Additional conditions would be instituted to consider a no-load mutual fund as an authorized investment.
Vote Recommendation Notes
While this may be good public policy that benefits eligible entities by expanding their investment options for public funds, this does not affect our liberty principles and we remain neutral.
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