Senate Sponsors: MAITLAND-TROTTER. House Sponsors: BIGGINS-BUGIELSKI-BRADY-CURRY,JULIE-MOFFITT Short description: PUB FUNDS-INVESTMENT POLICY Synopsis of Bill as introduced: Amends the Public Funds Investment Act. Requires public agencies to develop and implement an investment policy for public funds within their custody or control. Includes areas the policy must cover to address investment safety, liquidity, and rate of return. Requires that policies be in effect by January 1, 2000. Effective immediately. SENATE AMENDMENT NO. 1. Removes from the investment policy content requirements a policy regarding appropriate collateral and collateral custody requirements. Adds to the investment policy content requirements guidelines regarding collateral requirements, if any, for public funds deposited in a financial institution pursuant to the Public Funds Investment Act and, if applicable, guidelines for custody of that collateral. FISCAL NOTE (State Treasurer) No impact on the State's resources. STATE MANDATES ACT FISCAL NOTE SB 1555 creates a local gov't. organization and structure man- date which does not require reimbursement by the state. HOME RULE NOTE The bill fails to preempt home rule authority. Last action on Bill: PUBLIC ACT.............................. 90-0688 Last action date: 98-07-31 Location: Senate Amendments to Bill: AMENDMENTS ADOPTED: HOUSE - 0 SENATE - 1 END OF INQUIRY Full Text Bill Status