HB 264 -- STATE PUBLIC SCHOOL FUND

SPONSOR:  Cunningham (86)

COMMITTEE ACTION:  Voted "do pass by consent" by the Committee on
Elementary and Secondary Education by a vote of 12 to 0.

Currently, the State Board of Education must invest funds
accruing to the State Public School Fund in bonds of not less
than par value.  This bill removes the stipulation concerning par
value and allows the board to invest in discounted bonds.

FISCAL NOTE:  No impact on state funds in FY 2008, FY 2009, and
FY 2010.

PROPONENTS:  Supporters say that the state board could make more
money on its investments if the prohibition on buying discounted
bonds were lifted.

Testifying for the bill were Representative Cunningham (86); and
Department of Elementary and Secondary Education.

OPPONENTS:  There was no opposition voiced to the committee.

Missouri House of Representatives
94th General Assembly, 1st Regular Session
Last Updated July 25, 2007 at 11:18 am