2559 AMH CARL PRAG 1

HB 2559 - H AMD ADOPTED 2-3-2000

By Representatives Carlson and Kenney

     On page 7, after line 33, insert the following:

A(4) With regard to the assets of the account, the state acts in a fiduciary, not ownership capacity.  Therefore the assets of the program are not considered state money, common cash or revenue to the state.@

EFFECT: Clarifies ownership of money and imposes a fiduciary duty on the state.