House File 2592 H-8136 Amend House File 2592 as follows: 1 1. Page 1, after line 6 by inserting: 2 < Sec. ___. Section 12B.10, subsection 5, Code 2026, is 3 amended by adding the following new paragraph: 4 NEW PARAGRAPH . c. A political subdivision may obtain a 5 competitive quote directly from an eligible institution for an 6 investment exceeding twelve months or using nonstandard terms. > 7 2. Page 1, after line 18 by inserting: 8 < Sec. ___. Section 12B.10A, subsection 2, Code 2026, is 9 amended by adding the following new paragraph: 10 NEW PARAGRAPH . d. Among authorized investments of the same 11 type and comparable maturity, a political subdivision investing 12 public funds shall select the investment offering the highest 13 rate of return. > 14 3. Page 2, after line 18 by inserting: 15 < Sec. ___. NEW SECTION . 12B.10E Public funds investment 16 transparency. 17 1. a. A financial institution or joint investment trust 18 eligible to receive public funds pursuant to the laws of this 19 state shall maintain publicly accessible historical rate 20 data for a minimum of one year and shall post on a publicly 21 accessible internet site at least once per week all of the 22 following: 23 (1) Current rates for daily liquid or demand deposit 24 products available to a public entity. 25 (2) Fixed-term investment rates available to a public 26 entity that range from one month to twelve months. 27 (3) Any applicable investment threshold, capacity limit, or 28 minimum or maximum deposit amount associated with those rates. 29 b. Any rate that a financial institution or joint investment 30 trust posts on an internet site must reflect offerings 31 available to a public entity at the time of publication and 32 clearly identify any promotional or limited availability rate. 33 2. A local government investing operating funds directly in 34 a publicly offered deposit product or joint investment trust 35 -1- HF 2592.3150 (2) 91 sc/ns 1/ 2 #1. #2. #3.