SB2843: State Treasury Efficiency Act; enact.

Legislative Summary

An Act To Enact The State Treasury Efficiency And Transparency Act; To Define Terms; To Require All Funds Held By State Agencies Within The State Treasury Or Outside The State Treasury To Be Held In Interest-bearing Accounts; To Require, When It Is Reasonably Feasible To Do So, That All Funds Held By State Agencies Within The State Treasury Shall Be Included In Pooled Interest-bearing Accounts To Be Invested By The Treasurer; To Require The Treasurer To Perform An Annual Review Of The Funds That Receive Interest Allocation From Pooled Interest Investments To Determine If Funds That Receive Interest Are Idle Other Than The Receipt Of Interest Allocation From Pooled Interest Investments; To Authorize The Treasurer To Preclude Certain Funds From An Allocation Of Interest; To Require Each State Agency To Provide Certain Information Concerning Its Funds To The State Treasurer; To Require The Treasurer To Report The Compiled Fund Information To The Legislative Budget Office; To Require The State Fiscal Officer To Assist The Treasurer In Making Certain Determinations Under The Act; To Authorize The State Fiscal Officer To Disapprove Of Payments From The State Treasury If A State Agency Does Not Timely Provide The Information Required By This Act; And For Related Purposes.