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ID H0546
Bill
Status
3/28/2016
Primary Sponsor
Appropriations Committee
Click for details
AI Summary
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Appropriates $675,400 to the Endowment Fund Investment Board for fiscal year 2017 (July 1, 2016 through June 30, 2017), with $480,300 for personnel costs, $193,400 for operating expenditures, and $1,700 for capital outlay.
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Authorizes the Endowment Fund Investment Board to maintain no more than 3.7 full-time equivalent positions during fiscal year 2017, unless specifically authorized by the Governor.
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Grants continuous appropriation authority for consulting fees, bank custodial fees, and portfolio-related external costs for the fiscal year 2017 period.
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Directs the Endowment Fund Investment Board to transfer $63,158,400 from various earnings reserve funds to corresponding income funds, including $36,724,800 from the Public School Earnings Reserve Fund and smaller amounts from eight other endowment funds.
Legislative Description
Appropriates $675,400 to the Endowment Fund Investment Board for fiscal year 2017; limits the number of authorized 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 28, 2016 Session Law Chapter 230 Effective: 07/01/2016
3/28/2016