Bill > HB469

This bill modifies the process for selecting an investment advisor for the public deposit investment pool (PDIP) and updates the composition of the PDIP advisory committee. Specifically, the bill requires the state treasurer and advisory committee to evaluate investment advisors through a competitive bidding process, requesting and reviewing proposals based on criteria they establish. The bill also mandates that a representative from the Municipal Managers Association of New Hampshire be added as a member of the PDIP advisory committee. The new selection process for investment advisors includes an additional step of submitting the chosen contract to the governor and executive council for final approval. These changes aim to enhance the transparency and diversity of oversight for the public deposit investment pool by introducing a more structured selection process and broadening the committee's membership. The bill will take effect 60 days after its passage, allowing time for implementation of the new procedures.

Government Affairs

https://gc.nh.gov/bill_status/legacy/bs2016/bill_status.aspx?lsr=710&sy=2025&sortoption=&txtsessionyear=2025&txtbillnumber=HB469