Mississippi Looking to Invest in Israel Bonds

An employee of Bank of Israel holds new 50 Shekels' bills during a press conference at the bank's headquarters in Jerusalem on September 10 2014. The 50 Shekels (about 13 US dollars) bill carries the image of late Jewish poet Shaul Tchernichovsky and be released in the market in the …
MENAHEM KAHANA/AFP/Getty

JACKSON, Mississippi — The Mississippi Legislature might authorize the state treasury to invest in Israel 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 US 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 US 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.

.