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ID H0181
Bill
Status
3/21/2013
Primary Sponsor
State Affairs Committee
Click for details
AI Summary
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Creates the Capitol Maintenance Reserve Fund to receive distributions from the Capitol Permanent Endowment Fund, managed by the Endowment Fund Investment Board, for repair, maintenance, construction needs, and administrative costs related to the capitol building and grounds.
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Establishes the Capitol Commission Operating Fund managed by the State Treasurer, funded by transfers from the Capitol Maintenance Reserve Fund, interest earnings, and donations for operation and projects of the capitol commission.
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Requires the Endowment Fund Investment Board to distribute a board-approved percentage of the Capitol Permanent Endowment Fund value to the Capitol Maintenance Reserve Fund on July 1 of each fiscal year to provide stable funding while preserving the endowment's value.
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Directs the State Treasurer to deposit $25 of initial Idaho Capitol Commission license plate fees and $15 of renewal fees into the Capitol Maintenance Reserve Fund, with $10 of initial and $10 of renewal fees going to the state highway account.
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Makes all expenditures from both funds subject to legislative appropriation and specifies that moneys shall be used exclusively for capitol-related purposes as defined in chapter 16, title 67, Idaho Code.
Legislative Description
Adds to and amends existing law relating to the capitol building and grounds to establish the Capitol Maintenance Reserve Fund, to provide that the fund shall receive certain distributions and that the fund shall be managed by the Endowment Fund Investment Board, and to provide for use of moneys in the fund; and to establish the Capitol Commission Operating Fund, to provide that the fund shall be managed by the state treasurer and shall consist of certain transfers, interests and proceeds.
CAPITOL MAINTENANCE RESERVE FUND
Last Action
Reported Signed by Governor on March 21, 2013 Session Law Chapter 111 Effective: 07/01/13
3/21/2013