The proposed bill, if enacted, would amend section 35-326 of the Arizona Revised Statutes to enhance the management of the local government investment pool. Specifically, it would insert a provision that mandates the state treasurer to manage the pool and allows the treasurer to enter into a contract with a third party as a contingency plan in case the treasurer is unable to fulfill their fiduciary duties. This addition aims to ensure continuity in the management of the investment pool.

Additionally, the bill would make a minor change by deleting the existing designation "E." and replacing it with "f." while retaining the current definition of "political subdivision." This change is part of conforming adjustments to the statute, ensuring that the language remains clear and organized. Overall, the bill seeks to modernize the management framework of the local government investment pool while maintaining existing definitions and structures.

Statutes affected:
Introduced Version: 35-326