Mo Senator seeks to increase loan money available through State Treasurer

Missouri Senator Sandy Crawford has filed a bill that would increase the amount of money that the State Treasurer is allowed to invest in linked deposits. Currently the Treasurer is allowed to invest an amount up to $800-million-dollars. Crawford’s bill would increase that amount to $1.2-billion.

Crawford said the banks who can offer the loans have to agree to the rate

She said there are different buckets of money like, multi-tenant development enterprises, property developers and residential property owners, job enhancement businesses, and water systems. The bill also prohibits digital currency from being accepted by the State Treasurer. Senate Bill 736 will have to pass a second time in the Senate before going to the Missouri House for a vote.