This bill amends the operation of the public deposit investment pool and modifies the membership of its advisory committee. It requires the state treasurer and the public deposit investment pool advisory committee to evaluate investment advisors by requesting proposals from advisors and reviewing such proposals based on criteria established by the state treasurer and advisory committee, subject to a competitive bidding process. Such contract shall be submitted to the governor and executive council for final approval. This replaces the previous requirement to choose an investment advisor. Additionally, the bill mandates that a member of the Municipal Managers Association of New Hampshire be included on the public deposit investment pool advisory committee by adding a new subparagraph to RSA 6:47, I. The effective date of this act is set for 60 days after its passage, which is anticipated to be August 24, 2025.

Statutes affected:
Introduced: 6:47
As Amended by the Senate: 6:45, 6:47
Version adopted by both bodies: 6:45, 6:47
CHAPTERED FINAL VERSION: 6:45, 6:47