Skip to main content
Colorado General AssemblyToggle Main Menu
Agency NameToggle Agency Menu
HB19-1179

Public Fund Investments

Concerning the financial risk profiles of legal investments of public funds.
Session:
2019 Regular Session
Subject:
Fiscal Policy & Taxes
Bill Summary

The bill defines nationally recognized statistical rating organizations and negotiable certificate of deposit.

The bill also modifies statutes governing the legal investments of public funds as follows:

  • Modifies and standardizes the credit rating requirements for securities invested in by public entities;
  • Clarifies that negotiable certificates of deposit are a legal investment and not deposits subject to the limitation of the "Public Deposit Protection Act";
  • Requires money market funds invested in by public funds to have an investment policy or objective which seeks to maintain a stable net asset value of one dollar per share;
  • Includes the secured overnight financing rate, the federal funds rate, or other reference rates which are similar to the United States dollar London interbank offer rate, the secured overnight financing rate, and the federal funds rate as permissible reference rates; and
  • Allows public entities to invest in local government investment pools.
    (Note: This summary applies to the reengrossed version of this bill as introduced in the second house.)

Status

Introduced
Passed
Became Law

Menu

Bill Text

Sponsors

Sponsor Type Legislators
Prime Sponsor

Rep. M. Gray
Sen. P. Lee

Sponsor

Co-sponsor

Rep. S. Bird, Rep. T. Kraft-Tharp, Rep. M. Snyder, Rep. B. Titone
Sen. J. Tate