ID H0536

Appropriates $754,800 to the Endowment Fund Investment Board for fiscal year 2021 (July 1, 2020 through June 30, 2021), consisting of $555,400 for personnel costs, $197,400 for operating expenditures, and $2,000 for capital outlay from the Miscellaneous Revenue Fund and Endowment Earnings Administrative Fund.

Authorizes no more than 4.00 full-time equivalent positions for the Endowment Fund Investment Board during fiscal year 2021, unless specifically authorized by the Governor, with prompt notification to the Joint Finance-Appropriations Committee for any increased positions.

Grants continuous appropriation authority for consulting fees, custodial fees, investment manager fees, and other portfolio-related external costs during fiscal year 2021.

Requires the Endowment Fund Investment Board to transfer $84,520,800 from various earnings reserve funds to their corresponding income funds, including $52,586,400 from Public School Earnings Reserve Fund to Public School Income Fund and smaller allocations from eight other institutional earnings reserve funds.