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ID H0231
Bill
Status
3/26/2015
Primary Sponsor
Appropriations Committee
Click for details
AI Summary
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Appropriates $644,500 to the Endowment Fund Investment Board for fiscal year 2016 (July 1, 2015 through June 30, 2016), consisting of $448,400 for personnel costs, $194,400 for operating expenditures, and $1,700 for capital outlay from the Miscellaneous Revenue Fund and Endowment Administrative Fund.
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Authorizes the Endowment Fund Investment Board to employ no more than 3.7 full-time equivalent positions during the fiscal year, with any increases requiring Governor authorization and prompt Joint Finance-Appropriations Committee notification.
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Grants continuous appropriation authority for consulting fees, bank custodial fees, and portfolio-related external costs for the period July 1, 2015 through June 30, 2016.
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Directs the Endowment Fund Investment Board to transfer $56,473,200 in fiscal year 2016 from nine separate earnings reserve funds to their corresponding income funds, including $32,758,800 from the Public School Earnings Reserve Fund and $4,562,400 from the Mental Hospital Earnings Reserve Fund.
Legislative Description
Appropriates $644,500 to the Endowment Fund Investment Board for fiscal year 2016; limits the number of full-time equivalent positions to 3.7; authorizes continuous appropriation authority for certain costs; and expresses legislative intent with regard to transfers from the earnings reserve funds to the income funds.
APPROPRIATIONS
Last Action
Reported Signed by Governor on March 26, 2015 Session Law Chapter 165 Effective: 07/01/2015
3/26/2015