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| SPONSOR: | Burpo | DATE TYPED: | 02/09/01 | HB | 172 | ||
| SHORT TITLE: | Investment of Short-term Investment Fund | SB | |||||
| ANALYST: | Eaton | ||||||
| Subsequent
Years Impact |
Recurring
or Non-Rec |
Fund
Affected | ||
| FY01 | FY02 | |||
| unknown | ||||
(Parenthesis ( ) Indicate Revenue Decreases)
SOURCES OF INFORMATION
LFC files
Department of Finance and Administration analysis not received.
SUMMARY
Synopsis of Bill
This bill, relating to the state Board of Finance requirement to fix the interest rate to be paid upon time deposits of public money, changes the requirement from quarterly rate setting (currently required), to setting the rate at least once per fiscal year. The Board still holds the right to fix the rate of interest at any time during the fiscal year.
FISCAL IMPLICATIONS
The fiscal implications of this bill are unknown.
A fiscal impact report from the Department of Finance and Administration was requested had not been received at the time of the writing of this report. A report from the Department of Finance and Administration to the Legislative Finance Committee on the fiscal impacts of this bill is advisable.
ADMINISTRATIVE IMPLICATIONS
Unknown
JBE/sb