SB 1454
Modifies provisions relating to investment of moneys by county hospitals
LR Number:
5853S.01I
Committee:
Last Action:
3/7/2024 - Second Read and Referred S Health and Welfare Committee
Journal Page:
Title:
Effective Date:
August 28, 2024

Current Bill Summary

SB 1454 - Current law authorizes certain boards of trustees of county hospitals located in Boone County to invest up to 15% of funds not required for immediate disbursement or needed for the operation of the hospital into any mutual fund. This act modifies this law by expanding it to include any county hospital that receives less than 1% of its annual revenues from county or state taxes, as well as removes the 15% cap on funds that may be invested and allows such funds to be invested in a variety of stocks, bonds, and money-market investments without needing to invest in mutual funds.

This act is identical to HB 1665 (2024) and similar to a provision in the truly agreed to and finally passed HCS/SS/SB 1359 (2024).

SARAH HASKINS

Amendments

No Amendments Found.