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Session of 2025
HOUSE BILL No. 2770
By Committee on Appropriations
Requested by Representative Helgerson
2-10
AN ACT concerning the health care stabilization fund; relating to
investments; permitting the director of investments of the health care
stabilization fund to invest funds as authorized for insurance
companies; amending K.S.A. 40-3406 and repealing the existing
section.
Be it enacted by the Legislature of the State of Kansas:
Section 1. K.S.A. 40-3406 is hereby amended to read as follows: 40-
3406. After consultation with the board of governors, the director of
investments may invest and reinvest moneys in the fund in accordance
with investment policies established by the pooled money investment
board under K.S.A. 75-4232, and amendments thereto, in the following:
(a) Direct obligations of, or obligations that are insured as to principal
and interest by, the United States of America or any agency thereof and
obligations and securities of the United States sponsored enterprises which
that under federal law may be accepted as security for public funds,
including investments in mortgage-backed securities;
(b) repurchase agreements with a Kansas bank or primary
government securities dealer which that reports to the market reports
division of the federal reserve bank of New York for direct obligations of,
or obligations that are insured as to principal and interest by, the United
States government or any agency thereof and obligations and securities of
United States government sponsored enterprises which that under federal
law may be accepted as security for public funds;
(c) commercial paper that does not exceed 270 days to maturity and
which that has received one of the two highest commercial paper credit
ratings by a nationally recognized investment rating firm;
(d) interest-bearing time deposits in any commercial bank located in
Kansas;
(e) the municipal investment pool fund, under K.S.A. 12-1677a, and
amendments thereto; or
(f) corporate bonds that are rated in one of the two highest credit
rating categories by a nationally recognized investment rating firm; or
(g) other investments as authorized for insurance companies by
article 2a of chapter 40 of the Kansas Statutes Annotated, and
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amendments thereto, to the extent that such investments are consistent
with any other applicable statute.
Sec. 2. K.S.A. 40-3406 is hereby repealed.
Sec. 3. This act shall take effect and be in force from and after its
publication in the statute book.
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