SJR 104 - This constitutional amendment, if approved by the voters, modifies the powers of the State Treasurer. Specifically, the State Treasurer is permitted to invest certain state moneys in obligations of the United States government or any agency or instrumentality thereof maturing and becoming payable not more than seven years from the date of purchase, rather than five years as is the case currently. The amendment additionally authorizes the State Treasurer to invest in: • Municipal securities possessing one of the five highest long term ratings or the highest short term rating issued by a nationally recognized rating agency and maturing and becoming payable not more than five years from the date of purchase; and • Other reasonable and prudent financial instruments and securities as otherwise provided by law. This constitutional amendment is identical to the truly agreed to HCS/HJR 35 (2021) and substantially similar to HJR 159 (2026). SCOTT SVAGERA

2026 Regular Session Introduced by Sandy Crawford

SJR 104 modifies Missouri state treasurer authority; referred to Senate committee but specific changes unavailable without full bill text.

Second Read and Referred S Insurance and Banking Committee

Legislative bill overview

SJR 104 is a joint resolution that would modify the constitutional or statutory authority granted to Missouri's state treasurer. The bill has been referred to the Senate Insurance and Banking Committee, suggesting it may relate to financial management, banking oversight, or treasury operations. Without access to the full bill text, the specific modifications cannot be detailed.

Why is this important

The state treasurer manages public funds, handles unclaimed property programs, and oversees state financial accounts—functions that directly affect how taxpayer money is managed and deployed. Changes to the treasurer's authority could expand or restrict these financial responsibilities, potentially affecting state spending flexibility, oversight mechanisms, or constituent services.

Potential points of contention

Scope of treasurer powers: Expansion of authority could reduce legislative oversight of financial decisions, while restrictions might limit the treasurer's ability to respond to fiscal emergencies

Bipartisan clarity: The bill's status as a joint resolution (requiring different passage thresholds) suggests structural constitutional changes that warrant scrutiny about long-term implications

Committee focus: Referral to Insurance and Banking Committee indicates possible connections to state funds investment, banking relationships, or financial institution regulation that stakeholders in those sectors may debate