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ID S1209
Bill
Status
Passed
3/1/2018
Primary Sponsor
Commerce and Human Resources Committee
Click for details
AI Summary
- Revises board composition from three wholesale distributor seats to one seat for wholesale distributors with less than 5 million gallons in annual sales
- Maintains existing seats for one state senator, one state representative, one financial community representative with insurance/accounting/finance expertise, and one engineer/geologist/scientist with environmental remediation experience
- Adjusts initial appointment terms so first two appointees serve two (2) years and remaining five members serve four (4) years, with all subsequent members serving four (4) year terms
- Retains quorum requirement of a majority of board members and compensation as prescribed in section 59-509(n), Idaho Code
- Preserves board duties to direct fund policies as an efficient insurance company while maintaining actuarial soundness and public purposes
Legislative Description
Amends existing law to revise provisions regarding the board of trustees.
IDAHO PETROLEUM CLEAN WATER TRUST FUND
Last Action
Session Law Chapter 21 Effective: 07/01/2018
3/1/2018
Committee Referrals
Commerce and Human Resources2/1/2018
Commerce and Human Resources1/18/2018
Judiciary and Rules1/17/2018
Full Bill Text
No bill text available