LRB-3591/1
RAC:kmg:kjf
1999 - 2000 LEGISLATURE
March 14, 2000 - Introduced by Senator Burke, cosponsored by Representatives
Cullen and Richards. Referred to Committee on Economic Development,
Housing and Government Operations.
SB469,1,3
1An Act to amend 24.61 (2) (a) (title), 24.61 (2) (a) 3. and 24.61 (2) (b); and
to
2create 24.61 (2) (a) 8. of the statutes;
relating to: investment authority of the
3board of commissioners of public lands.
Analysis by the Legislative Reference Bureau
Under current law, the board of commissioners of public lands (BCPL) is
authorized to invest moneys in the common school fund, the normal school fund, the
university fund and the agricultural college fund in certain specified investments.
These include bonds or notes of the United States; bonds issued by this state or the
University of Wisconsin Hospitals and Clinics Authority; and bonds issued by a
town, village, city, county or school district or certain other special districts in the
state. If requested by BCPL, the state investment board is required to provide BCPL
with advice and assistance in investing these moneys.
This bill authorizes BCPL to invest moneys in the common school fund, the
normal school fund, the university fund and the agricultural college fund in notes
issued by this state and in land in this state.
For further information see the state fiscal estimate, which will be printed as
an appendix to this bill.
The people of the state of Wisconsin, represented in senate and assembly, do
enact as follows:
SB469, s. 1
1Section
1. 24.61 (2) (a) (title) of the statutes is amended to read:
SB469,2,22
24.61
(2) (a) (title)
Authorized investments by board.
SB469, s. 2
3Section
2. 24.61 (2) (a) 3. of the statutes is amended to read:
SB469,2,44
24.61
(2) (a) 3. Bonds
and notes of this state.
SB469, s. 3
5Section
3. 24.61 (2) (a) 8. of the statutes is created to read:
SB469,2,66
24.61
(2) (a) 8. Land in this state.
SB469, s. 4
7Section
4. 24.61 (2) (b) of the statutes is amended to read:
SB469,2,98
24.61
(2) (b)
Deposited with state treasurer. All bonds, notes and other
9securities
so purchased
under par. (a) shall be deposited with the state treasurer.
