A bill to amend 1943 PA 20, entitled “An act relative to the investment of funds of public corporations of the state; and to validate certain investments,” by amending sections 1, 5, 7, and 7a (MCL 129.91, 129.95, 129.97, and 129.97a), section 1 as amended by 2012 PA 152, section 5 as added by 1997 PA 196, section 7 as added by 2008 PA 220, and section 7a as added by 2008 PA 404.
House Bill No. 4757 expands and clarifies the permissible investment options for Michigan public corporations, introduces new oversight and reporting requirements, and mandates professional standards for investment officers to promote prudent and transparent management of public funds.
Co-sponsored by Reps.
Referred to the Committee on Government Operations
