BR12
WWW Version
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BR 12 - J. Miller
AN ACT relating to local investments.
Amend KRS 66.480, relating to investments for local governments, political subdivisions, and school districts, to use and define the term "competent rating agency" in lieu of "nationally recognized rating agency" throughout the statute; allow investment in individual equity securities meeting specified requirements, individual high-quality corporate bonds meeting specified requirements, and provide that the investment of the funds allowed under specified sections does not exceed 40% of the total money invested; restrict investment to no more than 5% of the total amount of money in any one issuer; set out exemptions.
Oct 24, 2018 - Prefiled by the sponsor(s).