|Date Requested:February 02, 2011
Time Requested:04:20 PM
| FUND(S) |
Sources of Revenue
Legislation creates:Neither Program nor Fund
Effect this measure will have on costs and revenues of state government.
| SB 380 --- Increases the amount of funds to be invested in the Board of Treasury Investments from the balance of funds on deposit in the Revenue Shortfall Reserve Fund from $100,000,000 to $500,000,000.
Upon effective date of the bill, all securities currently invested by the IMB (approx. $232 million) would have to be liquidated to transfer the balance of funds to the BTI for investment which could incur investment losses depending on the monthly returns.
The State Treasurer’s Office could provide better estimates on the investment gains or risks long-term.
|Effect of Proposal||Fiscal Year|
|1. Estmated Total Cost||0||0||0|
|Repairs and Alterations||0||0||0|
|2. Estimated Total Revenues||0||0||0|
3. Explanation of above estimates (including long-range effect):