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 and reviewing them based on criteria established by the state treasurer and advisory committee, subject to a competitive bidding process. Additionally, any contract with an investment advisor must be submitted to the governor and executive council for final approval. The previous language that stated the treasurer and committee would simply choose an investment advisor has been replaced with this more rigorous evaluation process. Furthermore, the bill introduces a new requirement for the advisory committee by adding one member appointed by the Municipal Managers Association of New Hampshire to its membership. This change aims to enhance the representation and expertise within the committee, ensuring that municipal perspectives are considered in the management of the public deposit investment pool. The bill is set to take effect 60 days after its passage, with an effective date of 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