JACKSON, Miss. (AP) — The Mississippi Legislature might authorize the state treasury to invest in Israeli bonds.
The House passed Senate Bill 2051 Wednesday by a 118-2 vote. If enacted, the law would allow the state to use excess general funds to invest in bonds issued by Israel.
The bill says these investments must be made in U.S. currency and are capped at $20 million.
State treasury Chief of Staff Michelle Williams says the treasury invests most of its excess funds into state banks, then into the U.S. Treasury. The bill would give the treasury another option for investment — one that Williams said is safe but with a higher rate of return.
The bill heads back to the Senate for debate.
- Mississippi looking to invest in Israeli bonds
- Toolmaker to hire 660, invest $33.4M in 3 Mississippi cities
- Mississippi factory moves, investing $9.5M and hiring 250
- Wood pellet maker plans $200M investment in Mississippi
- Fertilizer maker invests $20 million in Mississippi, hire 20
- Frozen food maker invests $27.3M, adding jobs in Mississippi
- Mississippi city asks voters to renew tax for school bonds
- Mississippi OKs $25 million in bonds for bridge improvements
- Pro-school bond ruling appealed to Mississippi Supreme Court
- Residents of Mississippi city to consider $65M school bond