requiring the investment advisor for the public deposit investment pool to maintain funds in a particular manner.

This bill outlines rules for how the state's Public Deposit Investment Pool must manage its money, specifically requiring an investment advisor to keep at least 30 percent of funds in insured or collateralized deposits and to maintain the highest possible credit rating for the pool. It grants the state treasurer and an advisory committee the authority to select an investment advisor through a competitive process and to create detailed rules regarding disclosure, investment limits, and administrative practices. The legislation also repeals previous investment advisor obligations and sets an effective date of December 30, 2030, for the repeal provision, while other parts of the bill take effect immediately upon passage.