This bill amends K.S.A. 2024 Supp. 75-2263 to enhance the management and investment of state moneys certified by the state treasurer as equivalent to the aggregate net amount received for unclaimed property. The board of trustees of the Kansas public employees retirement system is tasked with the responsibility of managing these funds, ensuring that investments prioritize the interests of the state general fund. The bill introduces new investment standards, allowing the board to invest in bonds and similar obligations of foreign governments that meet specific credit ratings, while also prohibiting investments in countries identified as state sponsors of terrorism or governed by authoritarian regimes.

Additionally, the bill mandates that the board of trustees develop written policies for investment strategies, including asset allocation and risk evaluation criteria. It requires contracted investment advisors to maintain commercial insurance and fidelity bonds, ensuring accountability in managing these funds. The bill also repeals the existing section of K.S.A. 2024 Supp. 75-2263, streamlining the legal framework governing these investments. Overall, the legislation aims to optimize the investment of unclaimed property funds while safeguarding the state's financial interests.

Statutes affected:
As introduced: 75-2263, 75-4221a