Legislature(2017 - 2018)HOUSE FINANCE 519

01/25/2018 09:00 AM FINANCE

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* first hearing in first committee of referral
+ teleconferenced
= bill was previously heard/scheduled
-- Please Note Time Change --
*+ HB 287 APPROP: EDUCATION/STUDENT TRANSPORTATION TELECONFERENCED
Heard & Held
-- Public Testimony --
*+ HB 213 PUBLIC SCHOOL TRUST FUND TELECONFERENCED
Heard & Held
-- Public Testimony --
+ Bills Previously Heard/Scheduled TELECONFERENCED
HOUSE BILL NO. 213                                                                                                            
                                                                                                                                
     "An Act relating to the investment, appropriation, and                                                                     
     administration of the public school trust fund."                                                                           
                                                                                                                                
10:09:56 AM                                                                                                                   
                                                                                                                                
REPRESENTATIVE  JUSTIN PARISH,  SPONSOR, explained  that the                                                                    
bill  would achieve  greater  efficiency  in government.  He                                                                    
detailed  it would  allow  the state  to  manage the  Public                                                                    
School  Trust  Fund in  a  way  that would  realize  greater                                                                    
earnings and would allow more  to be sustainably spun off to                                                                    
support  public education  statewide.  He characterized  the                                                                    
details  of the  bill as  a  bit esoteric.  He explained  it                                                                    
would modernize  the way  the fund was  managed. All  of the                                                                    
analyses  he had  seen had  supported the  change. The  bill                                                                    
would switch  from the  current antiquated  model to  a more                                                                    
modern  industry  standard  of  a Percent  of  Market  Value                                                                    
(POMV) draw. The  bill proposed a conservative  POMV draw of                                                                    
4.75 percent and would include a 10-year lookback.                                                                              
                                                                                                                                
Co-Chair  Foster relayed  the  committee would  recess to  a                                                                    
call of the chair [note: the meeting never reconvened].                                                                         
                                                                                                                                
HB  287  was  HEARD  and   HELD  in  committee  for  further                                                                    
consideration.                                                                                                                  
                                                                                                                                
10:12:23 AM                                                                                                                   
RECESSED                                                                                                                        
                                                                                                                                

Document Name Date/Time Subjects
HB 213 Sponsor Statement Public School Trust fund.pdf HFIN 1/25/2018 9:00:00 AM
HB 213
HB 287 Sponsor Statement.pdf HFIN 1/25/2018 9:00:00 AM
HB 287
Sectional Analysis HB 213.pdf HFIN 1/25/2018 9:00:00 AM
HB 213
HB 287 Presentation 1-25-2018.pdf HFIN 1/25/2018 9:00:00 AM
Sectional Analysis HB 213.pdf HFIN 1/25/2018 9:00:00 AM
HB 213
HB 213 Comparison 01-12-2018.pdf HFIN 1/25/2018 9:00:00 AM
HB 213
HB 213 10 years 01-23-2018.pdf HFIN 1/25/2018 9:00:00 AM
HB 213
HB 287 Letters in Support.pdf HFIN 1/25/2018 9:00:00 AM
HB 287
HB 213 DOR endowment calculations table.pdf HFIN 1/25/2018 9:00:00 AM
HB 213
HB 287 Letter in Support 1.25.16.pdf HFIN 1/25/2018 9:00:00 AM
HB 287
HB 287 JPS State Issues 2018.pdf HFIN 1/25/2018 9:00:00 AM
HB 287
HB 287 Support Document Follow up.pdf HFIN 1/25/2018 9:00:00 AM
HB 287
HB 287 Presentation 1-25-2018.pdf HFIN 1/25/2018 9:00:00 AM
HB 287