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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 - 2006
IN 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