- - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - Explanation:

Matter added to current law appears in bold italics.

Matter removed from current law appears [in brackets and struckthrough.] Matter which is either (a) all new or (b) repealed and reenacted appears in regular type.

SB 553-FN - AS AMENDED BY THE HOUSE 02/21/2024 0696s 23May2024...

1910h 24-3129 11/10 STATE OF NEW HAMPSHIRE In the Year of Our Lord Two Thousand Twenty Four AN ACT requiring the investment advisor for the public deposit investment pool to maintain funds in a particular manner.

Be it Enacted by the Senate and House of Representatives in General Court convened:

1 Public Deposit Investment Pool.

Amend the bill by inserting after section 1 the following and renumbering the original sections 2-3 to read as 3-4, respectively:

3Amend Rulemaking;the bill by replacing section 4 with the following:

State Treasurer.

Amend RSA 6:46 to read as follows:

6:46 Rulemaking.

The state treasurer [shall] may, with the approval of the advisory committee, adopt rules, pursuant to RSA 541-A, relative to:

I.

Formulation of a disclosure policy and materials to be included in a prospectus and in periodic reports to participants, including:

(a) A written statement of policy and pool objectives;

(b) Investment objectives designed to meet the pool objectives;

(c) A description of eligible investment instruments;

(d) The credit standard of investment;

(e) Allowable maturity range of investments;

(f) The limits of portfolio concentration permitted for each type of security;

(g) Safekeeping practices and disclosure of percentage of funds that are collateralized;

SB 553-FN - AS AMENDED BY THE HOUSE - Page 2 - (h) Definition of pool participant eligibility;

(i) Disclosure of size of accounts, size of transactions and administrative costs;

(j) Disclosure of the amount of funds invested or deposited within the state of New Hampshire;

and (k) Instructions for establishing and utilizing accounts.

II.

Investment and administrative policies, practices, and restrictions, including the frequency and method used for calculating valuation, yields, and earnings.

III.

Requests for proposals from investment managers and criteria for reviewing such proposals.

Amendment to SB 553-FN - Page 2 - II.

LBAAmendment 24-3129to AmendedSB 5/29/24553-FN SB- 553-FN-Page FISCAL3 NOTE- AS2024-1910h AMENDED BYANALYSIS THEThis HOUSEbill (AMENDMENTencourages #2024-1910h)the ANinvestment ACTadvisor requiringfor the public deposit investment advisorpool formaintain no less than 30 percent of the funds held by the public deposit investment pool in insured or collateralized deposits and requires them to achieve and maintain fundsthe inhighest aattainable particularrating manner.for stable value local government investment pools.

FISCAL IMPACT:

The Legislative Budget Assistant has determined that this legislation, as amended by the House, has a total fiscal impact of less than $10,000 in each of the fiscal years 2026 and 2027.

AGENCIES CONTACTED:

Treasury Department