Senate File 2155 - Enrolled Senate File 2155 AN ACT CONCERNING PUBLIC INVESTMENT MATURITY LIMITATIONS RELATING TO THE OPERATING FUNDS OF POLITICAL SUBDIVISIONS. BE IT ENACTED BY THE GENERAL ASSEMBLY OF THE STATE OF IOWA: Section 1. Section 12B.10A, subsection 1, paragraph c, Code 2018, is amended to read as follows: c. (1) Operating funds may only be invested in investments which mature within three hundred ninety-seven days or less and which are authorized by law for the investing public entity. (2) Notwithstanding subparagraph (1), a political subdivision which has or expects to accrue in the current budget year an amount of public funds that exceeds operating funds by at least thirty-three percent may invest amounts exceeding thirty-three percent of operating funds in certificates of deposit at federally insured depository institutions approved pursuant to chapter 12C which mature within sixty-three months or less provided that the political subdivision invests an amount reasonably expected to be

Senate File 2155, p. 2 expended during the current budget year or within fifteen months of receipt in investments pursuant to subparagraph (1). ______________________________ CHARLES SCHNEIDER President of the Senate ______________________________ LINDA UPMEYER Speaker of the House I hereby certify that this bill originated in the Senate and is known as Senate File 2155, Eighty-seventh General Assembly. ______________________________ W. CHARLES SMITHSON Secretary of the Senate Approved _______________, 2018 ______________________________ KIM REYNOLDS Governor