Iowa 2017-2018 Regular Session Status: Enacted

SF 2155 — A bill for an act concerning public investment maturity limitations relating to the operating funds of political subdivisions. (Formerly SSB 3022.) Effective 7-1-18.

Last action — Signed by Governor.

  1. ✓
    Introduced
  2. ✓
    In Committee
  3. ✓
    Passed Senate
  4. ✓
    Passed House
  5. ✓
    To Executive
  6. 6
    Enacted

This bill has been enacted into law. Introduced February 01, 2018. Enacted.

Prognosis

Not enough signal yet

Where this bill stands today.

Odds of enactment

High

How often bills like it became law.

Not enough signal yet to read this bill's trajectory — we surface a likelihood only once there's real movement (stage, sponsorship, committee, or votes) to point to.

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Bill Text

What changed in the latest version

31 added · 30 removed

31 line(s) added, 30 removed.

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Senate File 2155 - Introduced SENATE FILE 2155 BY COMMITTEE ON STATE GOVERNMENT (SUCCESSOR TO SSB 3022) A BILL FOR An Act concerning public investment maturity limitations relating to the operating funds of political subdivisions.
Senate File 2155 - Enrolled Senate File 2155 AN ACT CONCERNING PUBLIC INVESTMENT MATURITY LIMITATIONS RELATING TO THE OPERATING FUNDS OF POLITICAL SUBDIVISIONS.
TLSB 5387SV (1) 87 ec/rn S.F.
Section 1.
2155 Section 1.
Operating funds may only be invested in investments which mature within three hundred ninety-seven days or less and which are authorized by law for the investing public entity.
(1) Operating funds may only be invested in investments which mature within three hundred ninety-seven days or less and which are authorized by law for the investing public entity.
However, that portion of operating funds in excess of an amount equal to thirty-three percent of operating funds may be invested in certificates of deposit at federally insured depository institutions approved pursuant to chapter 12C which mature within five years or less.
(2) Notwithstanding subparagraph (1), a political subdivision which has or expects to accrue in the current budget year an amount of public funds that exceeds operating funds by at least thirty-three percent may invest amounts exceeding thirty-three percent of operating funds in certificates of deposit at federally insured depository institutions approved pursuant to chapter 12C which mature within sixty-three months or less provided that the political subdivision invests an amount reasonably expected to be Senate File 2155, p.
EXPLANATION The inclusion of this explanation does not constitute agreement with the explanation’s substance by the members of the general assembly.
2 expended during the current budget year or within fifteen months of receipt in investments pursuant to subparagraph (1).
This bill provides that a political subdivision may invest that portion of operating funds in excess of 33 percent of operating funds in certificates of deposit which mature within five years or less.
______________________________ ______________________________ CHARLES SCHNEIDER LINDA UPMEYER President of the Senate Speaker of the House I hereby certify that this bill originated in the Senate and is known as Senate File 2155, Eighty-seventh General Assembly.
Current law requires political subdivisions to invest operating funds in investments which mature within 397 days or less.
______________________________ W.
LSB 5387SV (1) 87 -1- ec/rn 1/1
CHARLES SMITHSON Secretary of the Senate Approved _______________, 2018 ______________________________ KIM REYNOLDS Governor
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Amendments

2 amendments

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Action History

  1. Signed by Governor.

  2. Reported correctly enrolled, signed by President and Speaker, and sent to Governor.

  3. Message from Senate.

  4. Immediate message.

  5. Passed Senate, ayes 47, nays 0.

  6. Senate concurred with S-5197.

  7. Message from House, with amendment S-5197.

  8. Immediate message.

  9. Passed House, ayes 100, nays none.

  10. Committee amendment H-8195 adopted.

  11. Placed on calendar under unfinished business.

  12. Committee amendment H-8195 filed.

  13. Committee report, recommending amendment and passage.

  14. Subcommittee recommends amendment and passage.

  15. Subcommittee: Bergan, Koester and Lensing.

  16. Read first time, referred to State Government.

  17. Message from Senate.

  18. Immediate message.

  19. Passed Senate, ayes 48, nays 0.

  20. Committee report, approving bill.

  21. Introduced, placed on calendar.

Sponsorship breakdown

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0 sponsors · 0 co-sponsors · 150 not signed on

Sponsors (0)

None.

Co-sponsors (0)

None.

Not signed on (150)

150 members have not signed on to this bill.

Show all 150 →

"Not signed on" means a member has not sponsored or co-sponsored this bill — it does not imply opposition. Members flagged Voted No have a recorded No vote on this bill.

Whip count is in markup. Polling the chamber and every recorded vote this session. Only the first open is slow. It’s instant for you after this. Calling the roll · Tallying · Engrossing

Subjects

finance elections
Cross-referencing the record. Reading this bill against every other bill in the corpus by meaning, not keywords. Only the first open is slow. It’s instant for you after this. Matching · Ranking · Engrossing

Frequently asked questions

What is the current status of SF 2155?
This bill has been enacted into law. Introduced February 01, 2018. Enacted.
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