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ID H0464
Bill
Status
3/23/2016
Primary Sponsor
State Affairs Committee
Click for details
AI Summary
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Removes references to "public endowment funds" from the State Treasurer's general investment duties under section 67-1201, instead authorizing the Endowment Fund Investment Board or State Board of Land Commissioners to direct endowment fund investments.
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Authorizes the State Treasurer to serve as custodian of the Public School Permanent Endowment Fund and request related records from the State Board of Land Commissioners and financial institutions.
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Creates new authority for the State Treasurer to invest agency funds and trust funds held by Idaho agencies that are not idle moneys under section 67-1210, with investment costs paid from the invested funds or earnings.
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Establishes the Treasurer's Administrative Fund to collect fees and charges for services provided by the Treasurer, including fees from endowment investments and agency fund investments, with continuous appropriation to the Treasurer.
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Declares the act an emergency measure effective upon passage and approval.
Legislative Description
Amends and adds to existing law to revise duties of the State Treasurer regarding public endowment funds; and to grant authority for the State Treasurer to invest certain funds otherwise excluded from his duties.
STATE TREASURER
Last Action
Reported Signed by Governor on March 23, 2016 Session Law Chapter 167 Effective: 03/23/2016
3/23/2016