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Committee clears bill that would let auditor allow treasurer to invest some funds
Summary
House Bill 1428, explained in committee by Senator Teague, would permit the auditor, at her discretion, to allow the treasurer to invest certain funds; the committee approved the bill by voice vote with no public comment.
House Bill 1428 was explained to the Senate Insurance & Commerce committee by Senator Teague, who said the measure would allow the auditor, if she chooses, to permit the treasurer to invest some of the auditor's funds.
"This bill allows the auditor, if she wants, to allow the treasurer to invest some of her money," Teague said, describing the change as straightforward. He offered to bring the auditor before the committee if members wanted a fuller explanation; the committee had no questions and no audience members rose to speak.
The committee took a motion, recorded a second and approved the bill by voice vote. The hearing record includes no detailed explanation of which funds are affected, any investment guidelines, or fiscal estimates; those details will appear in the bill text or subsequent fiscal analyses as the measure advances.
