Revision: Dec. 14, 2021, 1:52 p.m.
SB 272 - AS INTRODUCED
2022 SESSION
22-2864
07/08
SENATE BILL 272
AN ACT establishing a committee to study the oversight and operation of the public deposit investment pool.
SPONSORS: Sen. Rosenwald, Dist 13; Sen. Cavanaugh, Dist 16; Sen. Perkins Kwoka, Dist 21; Sen. Soucy, Dist 18; Rep. Abrami, Rock. 19; Rep. Almy, Graf. 13; Rep. Hunt, Ches. 11
COMMITTEE: Finance
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ANALYSIS
This bill establishes a committee to study the New Hampshire banking department's role in operating the public deposit investment pool.
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Explanation: Matter added to current law appears in bold italics.
Matter removed from current law appears [in brackets and struckthrough.]
Matter which is either (a) all new or (b) repealed and reenacted appears in regular type.
22-2864
07/08
STATE OF NEW HAMPSHIRE
In the Year of Our Lord Two Thousand Twenty Two
AN ACT establishing a committee to study the oversight and operation of the public deposit investment pool.
Be it Enacted by the Senate and House of Representatives in General Court convened:
1 Committee Established. There is established a committee to study the banking department's role in operating the public deposit investment pool.
2 Membership and Compensation.
I. The members of the committee shall be as follows:
(a) Two members of the senate, appointed by the president of the senate.
(b) Three members of the house of representatives, appointed by the speaker of the house of representatives; one of which who shall be a member of the commerce and consumer affairs committee, one of which who shall be a member of the municipal and county government committee, and one of which who shall be a member of the ways and means committee.
II. Members of the committee shall receive mileage at the legislative rate when attending to the duties of the committee.
I. The committee shall study:.
(a) The New Hampshire banking department's role in the operation of the public deposit investment pool;
(b) The extent to which the funds are invested in entities with a physical presence in New Hampshire and the impact of such investments; and
(c) The public deposit investment pool as an investment instrument, relative to its effectiveness in meeting the needs for safety, liquidity, rate of return, diversification, and general performance.
II. The committee may solicit input from other entities of its choosing.
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 45 days of the effective date of this section. Three members of the committee shall constitute a quorum.
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, 2022.
6 Effective Date. This act shall take effect upon its passage.