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H0433...........................................................by BUSINESS PETROLEUM CLEAN WATER TRUST FUND - Adds to and amends existing law to clarify that the compensation paid to the Board of Trustees of the Idaho Petroleum Clean Water Trust Fund is an honorarium. 01/20 House intro - 1st rdg - to printing 01/23 Rpt prt - to Bus 02/24 Rpt out - rec d/p - to 2nd rdg 02/27 2nd rdg - to 3rd rdg 03/03 3rd rdg - PASSED - 66-0-4 AYES -- Anderson, Andrus, Barraclough, Barrett, Bastian, Bayer, Bedke, Bell, Bilbao, Black, Block, Boe, Bolz, Brackett, Bradford, Cannon, Chadderdon, Clark, Collins, Deal, Denney, Edmunson, Eskridge, Field(23), Garrett, Hart, Harwood, Henbest, Henderson, Jaquet, Kemp, Lake, LeFavour, Loertscher, Martinez, Mathews, McGeachin, McKague, Miller, Mitchell, Moyle, Nielsen, Nonini, Pasley-Stuart, Pence, Raybould, Ring, Ringo, Roberts, Rusche, Rydalch, Sali, Sayler, Schaefer, Shepherd(2), Shepherd(8), Shirley, Skippen, Smith(30), Smith(24), Smylie, Snodgrass, Stevenson, Trail, Wills, Wood NAYS -- None Absent and excused -- Crow, Ellsworth, Field(18), Mr. Speaker Floor Sponsor - Nonini Title apvd - to Senate 03/06 Senate intro - 1st rdg - to Com/HuRes 03/10 Rpt out - rec d/p - to 2nd rdg 03/13 2nd rdg - to 3rd rdg 03/16 3rd rdg - PASSED - 35-0-0 AYES -- Andreason, Brandt, Broadsword, Bunderson, Burkett, Burtenshaw, Cameron, Coiner, Compton, Corder, Darrington, Davis, Fulcher, Gannon, Geddes, Goedde, Hill, Jorgenson, Kelly, Keough, Langhorst, Little, Lodge, Malepeai, Marley, McGee, McKenzie, Pearce, Richardson, Schroeder, Stegner, Stennett, Sweet, Werk, Williams NAYS -- None Absent and excused -- None Floor Sponsor - Werk Title apvd - to House 03/17 To enrol 03/20 Rpt enrol - Sp signed 03/21 Pres signed - To Governor 03/22 Governor signed Session Law Chapter 140 Effective: 01/01/03
]]]] LEGISLATURE OF THE STATE OF IDAHO ]]]] Fifty-eighth Legislature Second Regular Session - 2006IN THE HOUSE OF REPRESENTATIVES HOUSE BILL NO. 433 BY BUSINESS COMMITTEE 1 AN ACT 2 RELATING TO THE IDAHO PETROLEUM CLEAN WATER TRUST FUND ACT; PROVIDING LEGISLA- 3 TIVE INTENT AND PROVIDING DIRECTION TO THE STATE CONTROLLER; AMENDING SEC- 4 TION 41-4904, IDAHO CODE, TO REVISE COMPENSATION TO THE BOARD OF TRUSTEES 5 OF THE IDAHO PETROLEUM CLEAN WATER TRUST FUND; DECLARING AN EMERGENCY AND 6 PROVIDING RETROACTIVE APPLICATION. 7 Be It Enacted by the Legislature of the State of Idaho: 8 SECTION 1. LEGISLATIVE INTENT. In 2003, the Legislature enacted legis- 9 lation which amended the Idaho Petroleum Clean Water Trust Fund Act and cre- 10 ated a seven person board of trustees. This is a part-time board whose members 11 receive a minimum compensation for services. It was not the intent of the Leg- 12 islature for this compensation to interfere with or disqualify Individual 13 Retirement Accounts (IRAs) of the individual board members under federal tax 14 laws. This act is intended to reflect that the income received is an honorari- 15 um provided in Section 59-509(n), Idaho Code. The Controller's Office of the 16 State of Idaho is to correct and refile all necessary tax forms with the 17 Internal Revenue Service to reflect this change in law. Any contributions paid 18 to the Public Employee Retirement system shall be refunded and no service 19 shall be credited for any period since January 1, 2003. 20 SECTION 2. That Section 41-4904, Idaho Code, be, and the same is hereby 21 amended to read as follows: 22 41-4904. BOARD OF TRUSTEES OF THE FUND. (1) The governor shall appoint 23 seven (7) persons to be the board of trustees of the Idaho petroleum clean 24 water trust fund. One (1) member shall be a member of the state senate, one 25 (1) member shall be a member of the state house of representatives, one (1) 26 member shall be a representative of the financial community with expertise in 27 the area of insurance, accounting or finance, one (1) member shall be an engi- 28 neer, geologist or similarly trained scientist with experience in environmen- 29 tal remediation, one (1) member shall be a wholesale distributor of petroleum 30 products who participates in the trust fund and has less than five million 31 (5,000,000) gallons in annual sales, one (1) member shall be a wholesale dis- 32 tributor of petroleum products who participates in the trust fund and has from 33 five million (5,000,000) to ten million (10,000,000) gallons in annual sales, 34 and one (1) member shall be a retailer of petroleum products who participates 35 in the trust fund and has more than ten million (10,000,000) gallons in annual 36 sales. The governor shall appoint a chairman from the seven (7) members. The 37 members shall be appointed for terms of four (4) years, except that all vacan- 38 cies shall be filled for the unexpired term, provided that the first two (2) 39 appointments the governor makes after the effective date of this act shall 40 serve a term of two (2) years and the other five (5) members shall serve a 41 term of four (4) years. Thereafter, a member shall serve a term of four (4) 42 years. A certificate of appointment shall be filed in the office of the secre- 2 1 tary of state. A majority of the members shall constitute a quorum for the 2 transaction of all business or the exercise of any power or function of the 3 Idaho petroleum clean water trust fund. Members of the board of trustees shall 4 receive a compensation for service as prescribed in section 59-509(hn), Idaho 5 Code. 6 (2) The administrator of the fund shall be the state insurance fund 7 unless replaced by the board of trustees with another person. The administra- 8 tor shall serve at the pleasure of the board of trustees. The board of 9 trustees may appoint and employ such other persons as may be required by the 10 board and shall prescribe the duties and compensation of each such person. 11 (3) It shall be the duty of the board of trustees to direct the policies 12 and operation of the fund to assure that it is run as an efficient insurance 13 company, remains actuarially sound and maintains the public purposes for which 14 the Idaho petroleum clean water trust fund was created. 15 SECTION 3. An emergency existing therefor, which emergency is hereby 16 declared to exist, this act shall be in full force and effect on and after its 17 passage and approval, and retroactively to January 1, 2003.
STATEMENT OF PURPOSE RS 15443C1 The purpose of this legislation is to amend the Idaho Petroleum Clean Water Trust Fund Act (Title 41, Chapter 49, 41-4904) to provide that the compensation of members of the Board of Trustees of the Idaho Petroleum Clean Water Trust Fund is an honorarium under I.C. 59-509(n) and not compensation under I.C. 59-509(h). The reason for this change is to allow Board members' Individual Retirement Accounts (IRA) to remain qualified under federal pension and tax laws. This change is retroactive to the creation of the Board. FISCAL NOTE There is no fiscal impact to the general fund Contact Name: Senator Brad Little, Rep. Bob Nonini Phone: 332-1000 Hugh O'Riordan, Clean Water Trust Fund Board Attorney 388-1255 Suzanne Budge Schaefer 345-6632 STATEMENT OF PURPOSE/FISCAL NOTE H 433