Permissible State Investments
Pursuant to IC 5-13-9-2(a)(3), IC 5-13-9-2.5, IC 5-13-9-11, IC 5-13-10-1, and IC 5-13-10.5
The State Treasurer may invest in fixed income securities issued by any of the following:
- United States Treasury
- Federal agencies, instrumentalities, or government sponsored enterprises (GSEs)
- Supranational issuers having the highest rating by at least 1 nationally recognized credit rating agency with final state maturity of 270 days or less
- State of Israel
- Commercial paper with the highest rating by at least 1 nationally recognized credit rating agency with final stated maturity of 270 days or less
- Indiana Bond Bank obligations secured by tax anticipation warrants or notes
- Municipal securities issued by an Indiana entity that has not defaulted in the preceding 20 years from the date of purchase with a final stated maturity of not more than 10 years
- Money market mutual funds, purchased through an approved depository, that are AAA rated with a portfolio limited to obligations of the U.S. Government and U.S. agencies, instrumentalities, and GSEs, and/or repurchase agreements fully collateralized with these like securities
- Repurchase agreements, entered into with an approved depository, for the purchase and resale of any obligation issued by U.S., or a U.S. agency, instrumentality, or GSE
- Local government investment pool
Also, the State Treasurer may invest available funds in deposit accounts, include certificate of deposits, with any approved depository as defined in IC 5-13-4-8.
The Treasurer of State may make investments in securities with a final stated maturity of up to 5 years. However, no more than 25% of the entire portfolio may be invested in securities having a final maturity that is more than 2 years but not more than 5 years from the date of purchase.