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37:1 Committee Established. There is established a committee to study certain investments by municipalities.
37:2 Membership and Compensation.
I. The members of the committee shall be as follows:
(a) Two members of the senate, one from the senate finance committee and one from the public and municipal affairs committee, appointed by the president of the senate.
(b) Three members of the house of representatives, one of whom shall be from the house finance committee and one of whom shall be from the house ways and means committee, appointed by the speaker of the house of representatives.
II. Members of the committee shall receive mileage at the legislative rate when attending to the duties of the committee.
37:3 Duties. The committee's study shall include, but not be limited to:
I. Allowing town treasurers to deposit money into certificates of deposit offered through the public deposit investment pool.
II. Permitting municipalities to invest in a development finance institution.
37:4 Chairperson; Quorum. The members of the study committee shall elect a chairperson from among the members. The first meeting of the committee shall be called by the first-named senate member. The first meeting of the committee shall be held within 60 days of the effective date of this section. Two members of the committee shall constitute a quorum.
37:5 Report. The committee shall report its findings and any recommendations for proposed legislation to the president of the senate, the speaker of the house of representatives, the senate clerk, the house clerk, the governor, and the state library on or before November 1, 2018.
37:6 Effective Date. This act shall take effect upon its passage.
Approved: May 09, 2017
Effective Date: May 09, 2017
Text to be added highlighted in green.
37:1 Committee Established. There is established a committee to study certain investments by municipalities.
37:2 Membership and Compensation.
I. The members of the committee shall be as follows:
(a) Two members of the senate, one from the senate finance committee and one from the public and municipal affairs committee, appointed by the president of the senate.
(b) Three members of the house of representatives, one of whom shall be from the house finance committee and one of whom shall be from the house ways and means committee, appointed by the speaker of the house of representatives.
II. Members of the committee shall receive mileage at the legislative rate when attending to the duties of the committee.
37:3 Duties. The committee's study shall include, but not be limited to:
I. Allowing town treasurers to deposit money into certificates of deposit offered through the public deposit investment pool.
II. Permitting municipalities to invest in a development finance institution.
37:4 Chairperson; Quorum. The members of the study committee shall elect a chairperson from among the members. The first meeting of the committee shall be called by the first-named senate member. The first meeting of the committee shall be held within 60 days of the effective date of this section. Two members of the committee shall constitute a quorum.
37:5 Report. The committee shall report its findings and any recommendations for proposed legislation to the president of the senate, the speaker of the house of representatives, the senate clerk, the house clerk, the governor, and the state library on or before November 1, 2018.
37:6 Effective Date. This act shall take effect upon its passage.
Approved: May 09, 2017
Effective Date: May 09, 2017