Bill > HB2741

This bill amends the Public Funds Investment Act to expand the types of securities that public agencies can invest in by adding a new provision that allows investments in securities with specific maturity and rating characteristics. Specifically, public agencies can now invest in any security that either matures or can be tendered for purchase within 7 years of acquisition, and which has been assigned either the highest (AAA) or second-highest (AA) rating by nationally recognized rating organizations like Standard & Poor's or Moody's Investors Services. This change provides public agencies with more flexibility in managing their investment portfolios by broadening the range of eligible securities while still maintaining a focus on high-quality, relatively short-term investments. The bill aims to give public agencies more options for investing public funds in ways that balance potential returns with financial safety and liquidity, ensuring that investments are made in securities with strong credit ratings and relatively near-term maturity dates.

Budget and Finance

https://www.ilga.gov/legislation/BillStatus.asp?DocNum=2741&GAID=18&DocTypeID=HB&SessionID=114&GA=104