Legislation to broaden investment options for local units of government was before the House Government Operations Committee. House Bill 4757, sponsored by Rep. Brad Slagh (R-Zeeland Chtr. Twp.), is permissive and would allow for more investment opportunities and flexibility for possible increased returns on investments. The bill would add permissible kinds of investments, revise criteria for certain investments such as certificates of deposit, and require local units of government and other public corporations to file their investment policies with the state Department of Treasury annually. MTA is seeking an amendment to clarify that if no changes are made to an investment policy, the investment policy would not be required to be filed annually.
Michigan Townships Association
