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MN SF3472
Bill
Status
Introduced
2/12/2024
Primary Sponsor
Mary Kunesh-Podein
Click for details
AI Summary
- Establishes a nine-member task force to examine the distribution of earnings from the permanent school fund endowment, with membership required by September 1, 2024
- Task force members must have professional experience in institutional asset management, investment finance, trust administration, investment fund accounting, investment banking, or capital markets law
- Task force must examine historical returns on the permanent school fund endowment, evaluate investment mix changes to maximize long-term returns, and assess distribution of earnings and capital growth
- Task force must submit recommendations to legislative committee chairs and ranking minority members by January 15, 2026, with recommendations potentially including changes to state statutes and Minnesota's constitutional provisions
- Appropriates an unspecified amount from the general fund in fiscal year 2025 to the commissioner of education for task force operations, available through June 30, 2026
Legislative Description
Distribution of Endowment Fund earnings task force creation and appropriation
Last Action
Joint rule 2.03, referred to Rules and Administration
4/2/2024
Committee Referrals
Rules and Administration4/2/2024
Environment, Climate, and Legacy4/2/2024
Education Finance2/12/2024
Full Bill Text
No bill text available