Gov. Inslee signs Substitute House Bill No. 1284, April 29, 2019. Relating to creating the capacity for the state treasurer's office to provide separately managed investment portfolios to eligible governmental entities.
offers new program to provide local governments with another investment option.
Members of the Office of the State Treasurer’s investments team gathered as Washington Gov. Jay Inslee signed Substitute House Bill 1284 last week. The bill creates the capacity for the State Treasurer’s Office (OST) to provide separately managed investment portfolios to eligible governmental entities.
entities include any county, city, town, municipal corporation, quasi-municipal
corporation, public corporation, political subdivision, or special purpose
taxing district in the state.
“We are giving locals a longer-term option for their investments,” Treasurer Davidson said.
Since 1986, OST has
provided a short-term investment option for local governments through its Local
Government Investment Pool, a program with participants that include all 39
counties in the state and all Washington cities with a population greater than
The passing of this bill
marks the inception of a longer-term investment opportunity for local
governments through the State Treasury.
With the passage of the
bill OST is now set to develop a separately managed accounts program that will
take advantage of the investment expertise and financial knowledge of the
office to benefit local governments around the state.
https://www.tre.wa.gov/wp-content/uploads/20190429_HB1284.jpg18252738Adam Johnson/wp-content/uploads/tre-seal.pngAdam Johnson2019-05-08 20:59:162019-05-08 22:20:50New Investment Option for Local Governments