- Associated Press - Friday, March 6, 2015

CARSON CITY, Nev. (AP) - Nevada lawmakers are reviewing a bill allowing local governments and certain state funds to more broadly invest public money.

The Assembly Committee on Government Affairs held a hearing Friday on AB 196, which would expand the ability for local governments and a number of state insurance and education funds to make additional low risk investments.

Deputy State Treasurer for Investments Al Kramer told the committee that the bill would give the treasurer’s office another tool to help the state securely invest funds. He said the proposal would allow governmental bodies to enter securities agreements with a larger number of businesses.

Democratic Assemblywoman Dina Neal said she didn’t see a financial need for the bill and was concerned it didn’t have enough protections from risky investments.

LOAD COMMENTS ()

 

Click to Read More

Click to Hide