House Sponsors: POE-DURKIN-WOJCIK AND MITCHELL,BILL. Senate Sponsors: SIEBEN Short description: PUBLIC FNDS INVST-COLLATERAL Synopsis of Bill as introduced: Amends the Public Funds Investment Act. Provides that when a public agency deposits public funds in a financial institution, the agency and the institution may enter into an agreement requiring that any funds not insured by an approved share insurer be collateralized by securities, mortages, or loans covered by a State guaranty under the Farm Development Act (now by securities or mortgages) in an amount equal to at least the market value of the funds that exceed the amount covered by insurance. FISCAL NOTE (Farm Development Authority) There will be no fiscal impact. Last action on Bill: PUBLIC ACT.............................. 91-0324 Last action date: 99-07-29 Location: House Amendments to Bill: AMENDMENTS ADOPTED: HOUSE - 0 SENATE - 0 END OF INQUIRY Full Text Bill Status