Modifies provisions relating to the State Treasurer's ability to invest
HJR 159 is a proposed constitutional amendment that would allow Missouri's State Treasurer to invest state funds in municipal bonds with high credit ratings (among the top five long-term ratings) and other safe, sensible financial instruments. The amendment requires the Treasurer to follow a written investment policy with asset allocation limits, ensures all investments maintain high credit ratings, and restricts maturities (e.g., municipal bonds must mature within five years). It clarifies that the Treasurer's duties are limited to managing state and U.S. government funds, excluding unrelated responsibilities. This amendment must be approved by Missouri voters in a future election after passing the legislature.
Bill status
passed
3 of 5 stages cleared
Introduction
Jan 2026
Committee Review
Apr 2026
House Passage
Apr 2026
Senate Passage
Governor
Introduced Jan 6, 2026
Last action Apr 21, 2026
Maddy AI version diff · 2 comparisons
What changed between versions
House Committee Substitute
→
Perfected
·
4 edits
MODERATE
The bill was finalized and moved from a draft committee version to a perfected version ready for voter approval. The substantive policy content regarding state investment rules remains largely the same, but the final text clarifies that certain investment decisions must be approved by the governor and state auditor and slightly adjusts the maturity requirements for commercial paper investments.
Scope change
The scope of the bill's applicability remains unchanged; it still governs how the state treasurer and department of revenue manage state and nonstate funds.
REQUIREMENT
Added a requirement that investments in securities must be approved by the governor and state auditor, increasing oversight on investment decisions.
Changed the maturity limit for commercial paper investments from a strict 180 days to a range of 180 to 270 days, providing more flexibility for the treasurer.
TECHNICAL
Removed bracketed placeholder text indicating deleted language, finalizing the bill text for the ballot.
Updated the bill header to reflect that the text is now 'perfected' and ready for the next stage of the legislative process.
Floor votes
How they voted
This bill passed the House by voice vote (no roll call recorded).
Full legislative history
Actions timeline
Total actions
26
Key actions
9
Committee
10
Apr 21, 2026
Committee
Second read and referred: Insurance and Banking(S)
upper
Apr 16, 2026
Lower · Passed
Third Read and Passed (H) - AYES: 101 NOES: 34 PRESENT: 12
lower
Apr 15, 2026
Lower · Passed
Reported Do Pass (H) - AYES: 5 NOES: 0 PRESENT: 0
lower
Apr 15, 2026
Lower · Passed
Voted Do Pass (H)
lower
Apr 14, 2026
Committee
Referred: Fiscal Review(H)
lower
Apr 13, 2026
Lower · Passed
Perfected with Amendments (H) - HA 1, adopted
lower
Apr 13, 2026
Lower · Passed
HCS Adopted (H)
lower
Mar 31, 2026
Lower · Passed
Reported Do Pass (H) - AYES: 10 NOES: 0 PRESENT: 0
lower
Mar 10, 2026
Lower · Passed
Voted Do Pass (H)
lower
Feb 24, 2026
Committee
Referred: Rules - Legislative(H)
lower
Feb 5, 2026
Lower · Passed
HCS Reported Do Pass (H) - AYES: 13 NOES: 0 PRESENT: 0
lower
Feb 4, 2026
Lower · Passed
HCS Voted Do Pass (H)
lower
Jan 15, 2026
Committee
Referred: Financial Institutions(H)
lower
Jan 6, 2026
Introduced
Prefiled (H)
lower
1 primary · 3 co-sponsors
Sponsors
Role
Legislator
Party
State
District
P
Terry Thompson
RRepublican
Co
Bill Irwin
RRepublican
Co
Hardy Billington
RRepublican
Co
John Hewkin
RRepublican
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