Bill > HB0161

This bill amends Tennessee's insurance investment regulations by increasing percentage limits and clarifying money market fund investment rules. Specifically, the bill raises the investment percentage limit from 1% to 20% in one section of the law and from 5% to 10% in another section. Additionally, the bill adds a new provision defining two types of permissible money market fund investments for insurance companies: government money market funds (which invest only in U.S. government obligations) and Class 1 money market funds (which meet specific National Association of Insurance Commissioners (NAIC) investment classification standards). These changes are designed to provide insurance companies with more flexibility in their investment strategies while maintaining regulatory oversight. The new money market fund provisions include detailed requirements about the types of investments allowed and mandate compliance with NAIC investment guidelines. The bill takes effect immediately upon becoming law, reflecting the legislature's determination that these changes are in the public interest.

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https://wapp.capitol.tn.gov/apps/Billinfo/default.aspx?BillNumber=HB0161&ga=114