This bill amends section 218.415 of the Florida Statutes, specifically addressing the investment policies of local governments. The key change prohibits local governments from requiring a minimum bond rating for certain investments authorized under paragraph (16)(f). This aims to provide local governments with greater flexibility in their investment strategies, allowing them to consider a wider range of investment options without the constraint of minimum bond ratings.

The bill emphasizes that while safety and liquidity of funds should remain the top priorities in investment policies, the optimization of investment returns is secondary. Additionally, it mandates that if investments in derivative products or reverse repurchase agreements are authorized, local government officials must possess adequate understanding and expertise to manage these investments effectively. The act is set to take effect on July 1, 2025.

Statutes affected:
S 1674 Filed: 218.415
S 1674 c1: 218.415