ID H0460

Authorization requires state board of land commissioners approval for the investment board or its managers to invest funds that are exempt from state treasurer control and not subject to article VIII, section 2 of the Idaho Constitution.

Allows investment of funds donated, granted, gifted, or devised to Idaho public agencies (including municipalities, districts, political subdivisions, and public charter schools) when held as trusts or endowments.

Investment board may establish standards for fund acceptance including minimum investment periods and amounts, and may deduct investment costs from invested funds or their proceeds.

Funds invested by the investment board may be combined or pooled for investment purposes.

Renumbers subsections in Idaho Code Section 57-720 to reflect the addition of new authorization provisions while maintaining existing requirements for earnings reserve accounting, investment policies, annual audits, and state treasurer income fund duties.