Bill > HB3625

This bill modifies existing Oklahoma law concerning how school district treasurers can invest school funds, expanding the types of investments authorized beyond direct obligations of the federal government to include obligations of federal agencies and instrumentalities, federal-government-sponsored enterprise obligations, participations, investment grade obligations of state agencies rated A+ or better by Standard and Poor's and Fitch or A1 or better by Moody's, negotiable certificates of deposit from various financial institutions, savings accounts or certificates at banks or credit unions where funds are secured or insured by the Federal Deposit Insurance Corporation or the National Credit Union Administration, direct debt obligations of counties, municipalities, or school districts, prime banker's acceptances, prime commercial paper, repurchase agreements, warrants, bonds, or judgments of the school district, money market funds regulated by the Securities and Exchange Commission, qualified pooled investment programs, and investment programs administered by the State Treasurer, with specific limitations on maturity and percentage of funds for certain investments like prime banker's acceptances and commercial paper, and requires that any pooled investment program used must be approved by the board of education and competitively select its advisors. The bill also clarifies that the income from investments may be placed in various funds, including the general fund, building fund, or sinking fund, and mandates that the board of education review investment performance monthly, with the act set to take effect on July 1, 2026, and declared an emergency to allow for immediate implementation.

Business and Industry, Government Affairs

http://www.oklegislature.gov/BillInfo.aspx?Bill=hb3625&Session=2600