HB 1002 updates the types of investments that South Dakota state public funds are allowed to make by reorganizing and clarifying the list of approved securities—including direct U.S. government obligations, corporate bonds with high credit ratings, bank deposits, and other traditional investments. The bill also clarifies which state trust funds (like education and health care trust funds) are covered by these investment rules. This is primarily a technical cleanup of the investment code to ensure the State Investment Council has clear guidance on how to manage public money.
Signed by the Governor H.J. 256
Delivered to the Governor H.J. 204
Signed by the President S.J. 176
Signed by the Speaker H.J. 186
Senate Do Pass Passed, YEAS 34, NAYS 0. S.J. 152
State Affairs Certified uncontested, placed on consent
State Affairs Do Pass Passed, YEAS 8, NAYS 0.
State Affairs Scheduled for hearing
First read in Senate and referred to Senate State Affairs S.J. 91
House of Representatives Do Pass Passed, YEAS 67, NAYS 0. H.J. 47
State Affairs Certified uncontested, placed on consent
State Affairs Do Pass Passed, YEAS 12, NAYS 0.
State Affairs Scheduled for hearing
House of Representatives Referred to House State Affairs H.J. 29
First Reading House H.J. 7
State Affairs — Do Pass
State Affairs — Do Pass