Print Friendly SENATE BILL NO. 1349 – Approp, Endowment Fund Bd, add’l
SENATE BILL NO. 1349
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S1349............................................................by FINANCE
APPROPRIATIONS - Appropriating an additional $100,000 to the Office of the
Governor for the Endowment Fund Investment Board for fiscal year 2000.
02/03 Senate intro - 1st rdg - to printing
02/04 Rpt prt - to Fin
Rpt out - rec d/p - to 2nd rdg
02/07 2nd rdg - to 3rd rdg
02/09 3rd rdg - PASSED - 32-0-3
AYES--Andreason, Boatright, Burtenshaw, Cameron, Crow, Danielson,
Darrington, Davis, Deide, Dunklin, Frasure, Geddes, Hawkins, Ingram,
Ipsen, Keough, King-Barrutia, Lee, McLaughlin, Noh, Parry,
Richardson, Riggs, Risch, Sandy, Schroeder, Sorensen, Stegner,
Stennett, Thorne, Wheeler, Whitworth
NAYS--None
Absent and excused--Branch, Bunderson, Williams
Floor Sponsor - McLaughlin
Title apvd - to House
02/10 House intro - 1st rdg - to 2nd rdg
02/11 2nd rdg - to 3rd rdg
02/16 3rd rdg - PASSED - 61-0-9
AYES -- Alltus, Barraclough, Barrett, Bell, Bieter, Boe, Bruneel,
Callister, Campbell, Chase, Cheirrett, Clark, Crow, Cuddy, Deal,
Denney, Ellsworth, Gagner, Geddes, Hadley, Hammond, Hansen(23),
Hansen(29), Henbest, Jaquet, Jones, Judd, Kellogg, Kempton, Kendell,
Kunz, Lake, Linford, Mader, Marley, McKague, Meyer, Montgomery,
Mortensen, Moss, Moyle, Pearce, Pischner, Pomeroy, Reynolds,
Ridinger, Ringo, Robison, Sali, Schaefer, Shepherd, Smith, Smylie,
Stevenson, Stoicheff, Stone, Taylor, Tilman, Trail(Miller), Wheeler,
Zimmermann
NAYS -- None
Absent and excused -- Black, Field(13), Field(20), Gould, Hornbeck,
Loertscher, Sellman, Wood, Mr Speaker
Floor Sponsor - Clark
Title apvd - to Senate
02/17 To enrol
02/18 Rpt enrol - Pres signed
02/21 Sp signed - to Governor
02/22 Governor signed
Session Law Chapter 9
Effective: 02/22/00
S1349
|||| LEGISLATURE OF THE STATE OF IDAHO ||||
Fifty-fifth Legislature Second Regular Session - 2000
IN THE SENATE
SENATE BILL NO. 1349
BY FINANCE COMMITTEE
1 AN ACT
2 APPROPRIATING ADDITIONAL MONEYS TO THE OFFICE OF THE GOVERNOR FOR THE ENDOW-
3 MENT FUND INVESTMENT BOARD FOR FISCAL YEAR 2000; AND DECLARING AN EMER-
4 GENCY.
5 Be It Enacted by the Legislature of the State of Idaho:
6 SECTION 1. In addition to the appropriation made in Section 1, Chapter
7 239, Laws of 1999, there is hereby appropriated to the Office of the Governor
8 for the Endowment Fund Investment Board the following amount to be expended
9 according to the designated expense class from the listed fund for the period
10 July 1, 1999, through June 30, 2000:
11 FOR: Operating Expenditures $100,000
12 FROM: General Fund $100,000
13 SECTION 2. An emergency existing therefor, which emergency is hereby
14 declared to exist, this act shall be in full force and effect on and after its
15 passage and approval.
| Statement of Purpose |
| RS09778 |
This is a fiscal year 2000 supplemental appropriation for the Endowment Fund Investment Board. It provides the board with funding to pay for the costs of endowment reform authorized by HB 643aa of the 1998 session which becomes effective July 1, 2000. The endowment reform made changes to the State Constitution and statutes to allow the Board to make equity investments. This supplemental will be used to pay the costs of a consultant who will recommend a spending policy for current and future beneficiaries. The consultant will recommend asset allocation based on assumptions for inflation, population growth, and earnings. Funding is also included for an independent review, Attorney General consultations, and accounting software programming.
.
 
| FY 2000 Original Appropriation |
5.50 |
392,400 |
193,700 |
0 |
586,100 |
| Endowment Fund Investment Board |
|
|
|
|
|
| 1. Endowment Reform Consultant |
0.00 |
100,000 |
0 |
0 |
100,000 |
| FY 2000 Total Appropriation |
5.50 |
492,400 |
193,700 |
0 |
686,100 |
| Chg from FY 2000 Orig Approp |
0.00 |
100,000 |
0 |
0 |
100,000 |
| % Chg from FY 2000 Orig Approp. |
0.0% |
25.5% |
0.0% |
0 |
17.1% |
The impact on the General Fund is $100,000 in one-time funding.
.
Contact: Ray Houston 334-4741
Legislative Services Office, Budget & Policy Analysis
| Statement of Purpose/Fiscal Note |
Bill No. S1349 |