Bill > SB480

This bill amends Arkansas state law regarding the investment of state funds in the State Treasury, making several key changes to the types of securities and investment procedures allowed. The bill modifies the list of permissible investments, reducing the number of investment categories and adjusting specific requirements. Notably, it eliminates certain previous investment options like obligations issued by the State Board of Education, warrants from political subdivisions, and prerefunded municipal bonds. The bill also changes the requirements for corporate obligations, reducing the number of required rating agency evaluations from two to one and modifying the rating standards. Additionally, the legislation adjusts the procedures for purchasing and selling securities, removing the word "purchases" from the competitive procedure requirements and maintaining the goals of obtaining optimal pricing and avoiding broker preferences. The bill further modifies the process for transferring interest earned on State Treasury funds, adding the option to "credit" funds in addition to transferring them and removing the word "all" when describing the funds subject to interest allocation. These changes aim to provide more flexibility and potentially streamline the state's investment management processes while maintaining financial prudence.

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https://arkleg.state.ar.us/Bills/Detail?id=sb480&ddBienniumSession=2025%2F2025R