INVESTMENT OF UNEXPENDED MONEY BY TREASURER

HB 541 (New Mexico 2025) allows state and local treasurers to invest unspent funds from bond proceeds or sinking funds in specific, low-risk instruments. It authorizes investments in U.S. government securities, bonds from qualifying counties/municipalities (with minimum valuation and no recent defaults), federal agency securities, and federally insured obligations like CDs. The bill requires treasurers to follow approved investment policies reviewed every two years and obtain board of finance approval for changes. This bill directly affects state, county, and municipal treasurers managing public funds. It was referred to committees but postponed indefinitely on June 3, 2025.