Introduced
by
To authorize the Department of Treasury to invest money held in the Natural Resources Trust Fund in stocks.
Referred to the Committee on Appropriations
Substitute offered
To replace the previous version of the bill with a version recommended by the committee which reported it. The substitute requires that if property is sold from the fund the proceeds must be deposited back into the fund at fair market value of net cash value, whichever is higher.
The substitute passed by voice vote
Passed in the Senate 34 to 0 (details)
To allow funds in the Natural Resources Trust Fund to be invested in stocks. The bill is part of a package that would allow state restricted funds to invest in the same instruments allowed for state pension funds. This would require a vote of the people to change the Constitution, which currently prohibits this. The bill is tie-barred to Senate Joint Resolution T, which would place the question on the August 2002 statewide primary election ballot.
Substitute offered
To replace the previous version of the bill with a version recommended by the committee which reported it. The substitute incorporates changes resulting from committee testimony and deliberation. These changes do not affect the substance of the bill as previously described.
The substitute passed by voice vote
Passed in the House 103 to 0 (details)
To allow funds in the Natural Resources Trust Fund to be invested in stocks. The bill is part of a package that would allow state restricted funds to invest in the same instruments allowed for state pension funds. This would require a vote of the people to change the Constitution, which currently prohibits this. The bill is tie-barred to Senate Joint Resolution T, which would place the question on the August 2002 statewide primary election ballot.
Passed in the Senate 37 to 0 (details)
To concur with the House-passed version of the bill.
