Relative to the operation of the public deposit investment pool...
Relative to the operation of the public deposit investment pool and the membership of its committee.
This bill, HB469, aims to make changes to how the public deposit investment pool operates and who sits on its committee. The public deposit investment pool is where local governments can put their funds for safekeeping and to earn some interest.
The bill would impact local governments that use the public deposit investment pool by potentially altering the rules and oversight of their investments. It also affects the committee members who oversee these investments by changing who can be appointed or elected to serve on the committee.
HB469 was introduced on January 13, 2025, and has since been passed by both the House and Senate. It was signed into law by the Governor on June 25, 2025, and will become effective on August 24, 2025. The bill's journey through the legislature involved several hearings, committee reviews, and votes before its final passage and enactment.
