FIRST REGULAR SESSION
92ND GENERAL ASSEMBLY
INTRODUCED BY REPRESENTATIVES JACKSON, SMITH (118), DEEKEN, SKAGGS, BEARDEN,
JETTON, CROWELL, EMERY, WOOD, THRELKELD, MUNZLINGER,
WILSON (130) AND PEARCE (Co-sponsors).
Read 1st time January 29, 2003, and copies ordered printed.
STEPHEN S. DAVIS, Chief Clerk
AN ACT
To repeal section 30.300, RSMo, and to enact in lieu thereof one new section relating to state treasurer's reporting of accounts, with an emergency clause.
Be it enacted by the General Assembly of the state of Missouri, as follows:
Section A. Section 30.300, RSMo, is repealed and one new section enacted in lieu thereof, to be known as section 30.300, to read as follows:
30.300. 1. It shall be the duty of the state treasurer to report to the governor in writing, under oath, on or before the fifth day of every month:
(1) The amount of money received by the treasurer during the previous month;
(2) The amount paid out during the same period;
(3) The balances on hand to the credit of the several funds; and
(4) The amount of actual money in the treasurer's vault on the evening of the last day of the previous month and on deposit, time as well as demand, in what bank or banks and the sum in each type deposit in each bank, a description of the investments authorized by the Constitution of Missouri held by the treasurer for the account of the several funds including the cost of the obligation, how and when acquired, its maturity date, the rate of interest it pays or yields and a breakdown of the current total amount invested in each category of investment authorized by the Constitution of Missouri.
2. It shall be the duty of every depositary of state moneys to transmit to the governor, on demand, a true statement of account, showing the several deposits, time as well as demand, made by the treasurer and the dates thereof during the previous month, the balance on hand at the end of such month, including the interest, if any, which may have accrued on the time deposits.
3. The governor, without delay, shall compare the several reports and statements and ascertain whether the state treasurer has invested the money which came into the treasurer's hands within the requirements of section 30.260, and at the proper date, and whether the treasurer has drawn out only such sums as are the equivalent of the warrants issued, except as otherwise permitted by law.
4. The treasurer shall transmit a copy of the report described in subsection 1 of this section to the office of each member of the general assembly by e-mail or other suitable means on or before the fifth day of every month. The provisions of this subsection shall expire on July 1, 2006.
Section B. Because immediate action is necessary to inform the general assembly about the financial condition of the state in the current period of declining state revenues, section A of this act is deemed necessary for the immediate preservation of the public health, welfare, peace, and safety, and is hereby declared to be an emergency act within the meaning of the constitution, and section A of this act shall be in full force and effect upon its passage and approval.