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House Bill 2647 |
House Author: Stephenson |
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Effective: 6-15-17 |
Senate Sponsor: Taylor, Larry |
House Bill 2647 amends the Government Code to make interest-bearing banking deposits that are guaranteed or insured by the Federal Deposit Insurance Corporation or the National Credit Union Share Insurance Fund authorized investments under the Public Funds Investment Act, with certain exceptions. If certain conditions apply, the bill also makes interest-bearing banking deposits other than such guaranteed or insured deposits authorized investments under the act.