Z-0381.1  _______________________________________________

                          HOUSE BILL 1421

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State of Washington      56th Legislature     1999 Regular Session

By Representatives Huff, H. Sommers, Hatfield, Benson and McIntire; by request of State Investment Board

Read first time 01/25/1999.  Referred to Committee on Financial Institutions & Insurance.

Authorizing the state investment board to establish additional commingled trust funds.

    AN ACT Relating to the state investment board; and amending RCW 43.33A.170.

BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF WASHINGTON:

    Sec. 1.  RCW 43.33A.170 and 1982 c 58 s 1 are each amended to read as follows:

    ((There is established in the state treasury)) The state investment board ((commingled trust fund)) is authorized to establish commingled trust funds in the state treasury for the implementation of specific investment programs for any combination of funds under its jurisdiction.  At the discretion of the state investment board, the funds under the jurisdiction of the board may participate in the investments made by the board through ((the)) state investment board commingled trust funds.  The state investment board may establish accounts within ((the)) any such commingled trust fund as necessary for the implementation of specific investment programs.  The combining of moneys from funds located outside the state treasury with moneys from funds located within the state treasury for investment under this section shall not affect the nature, character, or purpose of a participating fund.

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