Expands permitted investments of school district and local unit funds.

This bill expands investment options for New Jersey school districts and local government units (such as municipalities) by allowing them to invest funds in new financial instruments including negotiable certificates of deposit (up to 3 years maturity), corporate debt obligations (up to 5 years), bankers' acceptances (up to 180 days), and commercial paper (up to 270 days). To use these new investment options, school district treasurers and local unit financial officers must complete annual training sessions approved by the Division of Local Government Services, with at least four hours of instruction on investment responsibilities. The bill amends existing laws governing school district and local unit investments to include these new options while maintaining safety and liquidity requirements. The changes apply to funds held by school districts and local units, with new investments subject to specific rating and maturity standards.