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Relating to local government public investment of funds.
No fiscal impact to the state is anticipated.
HB 2706 would make a number of changes regarding investment of certain public funds. The bill would would make numerous statutory changes to modernize the Public Funds Investments Act of 1987, including updates to the types of funds units of Texas government may invest in. The bill extends the maturation date of commercial paper bonds from 270 days to one year. The bill also allow investment pools to invest in corporate bonds.
Texas Action is neutral on HB 2706 because it does not appear to affect our liberty principles.