House local government panel hears HF159 1/24/23

A 2017 law limits the types of cities and counties that can use certain long-term equity investments to those whose population exceeds 100,000 or have the highest available bond rating of AAA. To provide more opportunities for local units of government, and as a matter of fairness, Rep. Mike Freiberg (DFL-Golden Valley) would like state statute expanded to counties and cities with a general obligation bond rating of at least AA. He sponsors HF159 that would both expand the investment opportunity and authorize certain self-insurance pools to invest in the same securities as the State Board of Investment. Read more about this bill at Session Daily: https://www.house.mn.gov/SessionDaily....