HOUSE OF REPRESENTATIVES

                      Olympia, Washington

Bill Analysis      Bill No.  HB 1423

Expanding the exemption to public disclosure laws for the state investment board.

Brief Title                              Hearing Date: 2/17/99

Reps. Huff, H., Sommers                  Staff:  Scott MacColl

Sponsor(s)                          State Government Committee

                                              Phone:  786-7106

BACKGROUND:

The Open Public Records Act (RCW 42.17), commonly known as the Public Disclosure Law, makes all public documents subject to release by request.  Numerous exemptions to the public disclosure requirement are codified in statute.  Some exemptions relate to records containing personal information and proprietary business information.  State and local governments are required to make records not specifically included within a statutory exemption available for public inspection and copying.

The Washington State Investment Board (SIB) was created in 1981, and is responsible for safeguarding and investing public trust funds and retirement funds.  Financial and commercial information supplied to the SIB is exempt from the Public Records Act when the information relates to investment of public trust funds or retirement funds, and when disclosure would result in loss to such funds or in private loss to information providers.

SUMMARY:

The open public records exemption relating to the State Investment Board is expanded to include financial, commercial, or other related information about a private entity=s business operation when the information relates to the investment of public trust funds or retirement funds, or to the provisions of investment management or consulting services, and when the disclosure could result in loss to the funds, loss of an investment opportunity, or private loss to the information providers.

FISCAL NOTE:  Not requested.

EFFECTIVE DATE:  Ninety days after adjournment of session in which bill is passed.