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HB 1803 - Under current law, the state treasurer is permitted to invest in linked deposits in an amount up to $800 million at any one time. This act increases that threshold to $1.2 billion. Furthermore, the act modifies the total deposit for linked deposits that may be used for different borrowers as follows: · Up to 5% of the aggregate for eligible multitenant development enterprises; · Up to 5% of the aggregate for eligible property developers and eligible residential property owners; · Up to 20% of the aggregate for eligible job enhancement businesses; and · Up to 5% of the aggregate for eligible water systems. All other linked deposits not allocated to the above may be used as permitted by law. This act is identical to SB 736 (2024) and substantially similar to SCS/SBB 657 (2023), and provisions in HCS/SCS/SB 187 (2023), HCS/HB 586, SCS/HCS/HB 725 (2023), the perfected HCS/HB 809, and HCS/HB 1109 (2023). SCOTT SVAGERA
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