FINAL BILL REPORT

HB 1395

                                  C 238 L 89

BYRepresentatives R. Fisher, McLean, Anderson, Nealey and Wolfe; by request of State Investment Board

Exempting certain financial and commercial information from public disclosure.

House Committe on State Government

Senate Committee on Financial Institutions & Insurance

SYNOPSIS AS ENACTED

BACKGROUND:

The 14-member State Investment Board has responsibility for making long- term investments of public trust and retirement funds.  The main funds invested are the six retirement system funds, industrial insurance trust funds, and a group of smaller permanent funds established at statehood, such as the permanent common school fund.

The records and meetings of the State Investment Board are subject to the public disclosure laws and the Open Public Meetings Act.  While these provisions contain some limitations on public access, the information used by the board for investment decision-making is not exempt from public access.

SUMMARY:

Financial and commercial information supplied to the State Investment Board relating to the investment of public trust or retirement funds is exempt from public disclosure if disclosure would result in loss to the funds or in private loss to the providers of the information.

Meetings of the State Investment Board that involve financial and commercial information relating to the investment of public trust or retirement funds are exempt from the Open Public Meetings Act when public knowledge regarding the discussion would result in loss to the funds or in private loss to the providers of the information.

VOTES ON FINAL PASSAGE:

      House 97   0

      Senate    44     0

EFFECTIVE:July 23, 1989