Additional deposit placement services approved

A bill designed to authorize state and local political subdivisions’ use of deposit placement services passed March 1.

LB836, sponsored by Boys Town Sen. Rich Pahls, allows state and political subdivisions to use additional programs to redeposit public funds invested in an interest-bearing money market deposit account at multiple insured institutions in amounts up to the FDIC deposit insurance coverage limit.

LB836 passed on a 49-0 vote.