Plain English Breakdown
The source material confirms the bill passed both chambers and reached final enrollment, but does not state if it has been signed by the Governor or its effective date.
HB871: New Investment Options for Local Governments
This bill changes Georgia state law to allow local governments to invest their money in additional types of financial assets.
What This Bill Does
- Amends Code Section 36-83-4 regarding authorized investments by local entities.
- Provides for additional authorized investments that local government funds may purchase.
- Updates rules related to delegating investment authority to a designated financial officer.
- Addresses the objective or goal required when managing these public funds.
Who It Names or Affects
- Local governments in Georgia
- Financial officers responsible for local government investments
Limits and Unknowns
- The provided text does not list the specific names or types of new investments added.
- The effective date is not included in the source material.