SENATE BILL REPORT

                   HB 2811

              As Reported By Senate Committee On:

               Ways &  Means, February 23, 1996

Title:  An act relating to investments of surplus funds by community and technical college districts and the state board for community and technical colleges.

Brief Description:  Authorizing community and technical college districts and the state board for community and technical colleges to participate with the state in investing surplus funds.

Sponsors:  Representatives L. Thomas, Robertson, Hickel, Pelesky, Mitchell, Kessler, Keiser, Blanton, Wolfe, Boldt and Thompson.

Brief History:

Committee Activity:  Ways & Means:  2/23/96 [DP].

SENATE COMMITTEE ON WAYS & MEANS

Majority Report:  Do pass.

  Signed by Senators Rinehart, Chair; Loveland, Vice Chair; Bauer, Cantu, Drew, Fraser, Hargrove, Hochstatter, Johnson, Kohl, Pelz, Quigley, Sheldon, Snyder, Spanel, Sutherland, Winsley and Wojahn.

Staff:  Michael Groesch (786-7434)

Background:  Local governments can have the State Treasurer invest their surplus funds, pooling them to maximize return.  The State Treasurer must keep a separate account for each participant in the investment pool.

Summary of Bill:  Community and technical college districts and the State Board for Community and Technical Colleges are authorized to participate in the investment pool managed by the State Treasurer for local governments.

Appropriation:  None.

Fiscal Note:  Requested on January 23, 1996.

Effective Date:  Ninety days after adjournment of session in which bill is passed.

Testimony For:  None.

Testimony Against:  None.

Testified:  No one.