2000 Legislation
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SENATE BILL NO. 1349 – Approp, Endowment Fund Bd, add’l


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Daily Data Tracking History

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
      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,
      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

Bill Text

  ||||              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
  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 / Fiscal Impact

Statement of Purpose

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.



Fiscal Note
FTP  Gen  Ded  Fed  Total 

FY 2000 Original Appropriation 5.50  392,400  193,700  586,100 

Endowment Fund Investment Board          
 1. Endowment Reform Consultant 0.00  100,000  100,000 

FY 2000 Total Appropriation 5.50  492,400  193,700  686,100 
Chg from FY 2000 Orig Approp 0.00  100,000  100,000 
% Chg from FY 2000 Orig Approp. 0.0%  25.5%  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