SB3777: TECHNOLOGY DEVELOPMENT ACCOUNT

Legislative Summary

Amends the Technology Development Act. Provides for additional specified information to be reported by a TDA II-Recipient Fund to the State Treasurer on a quarterly or annual basis for all investments. Provides for the allocation of the aggregate dollar amount available for new investments. Requires the State Treasurer to disclose on the website of the State Treasurer specified aggregate financial performance information for TDA II-Recipient Funds. Provides that the Technology Development Fund is a nonappropriated trust fund within the State treasury (rather than a special fund outside of the State treasury with the State Treasurer as custodian). Requires the State Treasurer to publish on his or her official website specified information regarding the Technology Development Fund for the previous fiscal year. Defines terms. Makes conforming changes.