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ND HB1278
Bill
Status
4/11/2025
Primary Sponsor
Mike Lefor
Click for details
AI Summary
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Creates a cash management board to review and develop policies for managing state treasury funds, with goals of preserving principal, ensuring liquidity, and maximizing returns at appropriate risk levels
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Board membership includes the governor (as chairman), OMB director, Bank of North Dakota president, two House members, two Senate members, and the state treasurer (or their designees)
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State treasurer must coordinate with Bank of North Dakota and the cash management board to develop treasury management policies covering the general fund and special funds, excluding veterans' postwar trust fund and funds managed by the state investment board
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Board must report at least annually to the budget section; state agencies are required to provide cash flow and liquidity information upon request
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Act expires June 30, 2028; passed House 90-1 and Senate 45-1
Legislative Description
The management of moneys in the state treasury and a cash management board; to provide a report; and to provide an expiration date.
Last Action
Filed with Secretary Of State 04/11
4/14/2025