This bill amends RSA 6:45, II, requiring the public deposit investment pool to be operated under contract with a private investment advisor, with the selection process now based on criteria established by the state treasurer rather than by rule under RSA 6:46. The bill introduces new obligations for the investment advisor, mandating that at least 30 percent of the funds held by the public deposit investment pool be kept in insured or collateralized deposits in accordance with RSA 6:8,I and 6:8,I-a. Additionally, the investment advisor is required to achieve and maintain the highest attainable rating for stable value local government investment pools, as determined by a nationally recognized statistical ratings organization.

The bill also amends RSA 6:46, allowing the state treasurer to adopt rules with the approval of the advisory committee, which include a wide range of disclosure and investment policies. Notably, the rules may now include the disclosure of the percentage of funds that are collateralized and the amount of funds invested or deposited within the state of New Hampshire. The bill sets a repeal date for the new investment advisor obligations of December 30, 2030, and states that the rest of the act will take effect immediately upon passage. The Legislative Budget Assistant has determined that the fiscal impact of the legislation is less than $10,000 for fiscal years 2026 and 2027.

Statutes affected:
Introduced: 6:45, 6:46
As Amended by the Senate: 6:45, 6:46
As Amended by the House: 6:45, 6:46