Honorable Rob Eissler, Chair, House Committee on Public Education
FROM:
John S O'Brien, Director, Legislative Budget Board
IN RE:
HB2349 by Larson (Relating to the authority of independent school districts to invest in corporate bonds.), Committee Report 1st House, Substituted
No fiscal implication to the State is anticipated.
Local Government Impact
The bill would authorize school districts to invest in corporate bonds, debentures, and similar debt obligations as long as these products received a qualified rating from a nationally recognized investment rating firm and have a stated final maturity date within 3 years of the date of purchase or investment. Fiscal implications for affected school districts would vary depending upon local investment decisions.