SEVERANCE TAX FUND INVESTMENT CLASSES

Summary

The bill revises the categories of investments that the state's Severance Tax Permanent Fund can make, separating them into "differential rate" and "market rate" classes. It requires all investments to follow the Uniform Prudent Investor Act and standard accounting rules, and it adds a possible loan program to help local governments in emergencies. The changes affect how the fund is managed and could influence its earnings and economic impact on the state.

AI-generated summary — may be incomplete or inaccurate. Verify against the official bill text.

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