Public finance; modifying investment procedures relating to local governments. Effective date.

Page numbering and headers were restructured to reflect committee substitute formatting with request numbers and page references.

The bill title and sponsor information were reorganized to match committee substitute conventions.

Line breaks and paragraph spacing were adjusted throughout the document to improve readability in the committee version.

Changed 'governing body' to 'governing board' and added reference to Section 152 of Title 51 for defining political subdivisions, clarifying who can authorize investment policies.

Added prime commercial paper as a new investment option with a 180-day maturity limit and 7.5% cap on surplus funds for individual political subdivisions.

Removed the 10% cap on prime banker's acceptances for qualified pooled investment programs, allowing these programs to invest without the percentage restriction.

Added explicit language allowing sound investment judgment when purchasing brokered securities, providing flexibility beyond strict competitive bidding requirements.

Added new subsections C through F covering local government investment pools, income placement options, fiduciary standards, and public retirement system exemptions.

Renumbered and reorganized investment categories from 10 items to 11 items, adding prime commercial paper and adjusting the structure of pooled investment program qualifications.

Added two additional House co-sponsors (Hildebrant and Lepak) to the bill header, expanding the list of legislative supporters.

Added signature line fields for the Governor's approval date and time, along with blank lines for the Presiding Officers of both chambers.

Changed the document title from 'ENGROSSED SENATE' to 'ENROLLED SENATE', indicating the bill has passed both chambers and is ready for executive action.