HLS 12RS-879 ENGROSSED
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are additions.
Regular Session, 2012
HOUSE BILL NO. 285
BY REPRESENTATIVE BROADWATER
TREASURER: Provides with respect to the weighted average maturity of securities
purchased as authorized investments by the state treasurer
AN ACT1
To amend and reenact R.S. 49:327(B)(2), relative to funds on deposit in the state treasury;2
to provide relative to the investment of funds in the state treasury; to provide relative3
to the maturity of securities purchased as investments; and to provide for related4
matters.5
Be it enacted by the Legislature of Louisiana:6
Section 1. R.S. 49:327(B)(2) is hereby amended and reenacted to read as follows:7
ยง327. Authorized investments; maturity; interest rates8
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B.10
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(2) Investments authorized by Subparagraphs (a) through (f) of Paragraph12
(1) of this Subsection shall mature on such date or dates as determined by the state13
treasurer in the exercise of prudent judgment to generate a favorable return to the14
state and will allow the monies to be available for use at such time as the monies will15
be needed for state purposes. However, the weighted average maturity of securities16
purchased as enumerated in Subparagraphs (a) through (f) of Paragraph (1) of this17
Subsection shall not exceed five years from date of purchase. For monies invested18
from special funds, the weighted average maturities shall not exceed ten years from19
date of purchase. Special funds shall be considered those funds created20 HLS 12RS-879 ENGROSSED
HB NO. 285
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are additions.
constitutionally, statutorily, or administratively which are not considered general1
funds.2
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DIGEST
The digest printed below was prepared by House Legislative Services. It constitutes no part
of the legislative instrument. The keyword, one-liner, abstract, and digest do not constitute
part of the law or proof or indicia of legislative intent. [R.S. 1:13(B) and 24:177(E)]
Broadwater HB No. 285
Abstract: Provides with respect to the weighted average of securities purchased as
authorized investments by the state treasurer.
Present law provides that authorized investments by the state treasurer shall mature on such
date or dates as determined by the state treasurer to generate a favorable return to the state
and allow monies to be available for use at such times as the monies will be needed for state
purposes. Present law also provides that the maturity of certain securities purchased shall
not exceed five years from date of purchase and provides that for monies invested from
special funds, the maturities shall not exceed 10 years from date of purchase.
Proposed law retains present law but provides that the reference to the maturity of securities
purchased as authorized investments shall be designated as "weighted average maturity" or
"weighted average maturities".
(Amends R.S. 49:327(B)(2))