Expands permitted investments of school district and local unit funds.

This bill expands the types of investments that New Jersey school districts and local government units can make with their funds. It allows investments in 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), provided the issuers meet specific rating requirements. To make these new investments, school district treasurers or local government financial officers must complete approved training sessions - at least four hours before making such investments and at least once every two years. These changes provide additional investment options while maintaining safeguards through mandatory training requirements.