S-1884.2  _______________________________________________

                         SENATE BILL 6063

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State of Washington      56th Legislature     1999 Regular Session

By Senators Loveland, West, Snyder and Oke

Read first time 03/01/1999.  Referred to Committee on Ways & Means.

Authorizing the state investment board to invest and reinvest moneys in the emergency reserve fund.

    AN ACT Relating to the authority of the state investment board to invest and reinvest moneys in the emergency reserve fund; adding a new section to chapter 43.135 RCW; providing an effective date; and declaring an emergency.

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

NEW SECTION. Sec. 1.  A new section is added to chapter 43.135 RCW to read as follows:

    The state investment board shall have full power to invest and reinvest the moneys in the emergency reserve fund in the manner provided by RCW 43.84.150 and chapter 43.33A RCW.

NEW SECTION. Sec. 2.  This act is necessary for the immediate preservation of the public peace, health, or safety, or support of the state government and its existing public institutions, and takes effect July 1, 1999.

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