SSB 3022 – Public investment maturity limitations in operating funds of cities/counties.
SSB 3022 says that a political subdivision (city, county or school district) may invest that portion of their operating funds, in excess of 33 percent, in five-year certificates of deposit. Current law requires investments that mature within 397 days or less for this portion of excess operating funds. This bill will allow cities, counties or school districts to earn more interest on these investments.
[1/31: short form (Excused: Horn, Zaun)]