1st Sub. H.B. 168
         SCHOOL AND INSTITUTIONAL TRUST LANDS AND FUNDS MANAGEMENT PROVISIONS

Senate Floor Amendments

Amendment 3 March 11, 2014 9:51 AM



Senator Curtis S. Bramble proposes the following amendments:

1.    Page 15, Lines 457a through 458
    House Committee Amendments
    3-6-2014 :    

             457a          (3) The director shall deposit into the account an amount of money from the
  earnings from       trust fund

             457b     
{   investment revenues   }        assets       equal to the annual appropriation that the Legislature makes to the office        , to pay for the office's operating costs       .

             457c     
{   The office may deduct from income all costs related to risk management, consulting,

             457d      equipment, and legal expenses, custodial costs, management fees, and other costs of operating
             457e      the office. .H   }
             458          (4)
  (a) The office may use money in the account to pay for the office's operating costs.

    (b)  
If the amount of money deposited into the account under Subsection (3) in any year


2.    Page 16, Line 463
    House Committee Amendments
    3-6-2014 :    

             463          H.
{   [   } (5)        (a)       Before distributing earnings from trust fund assets, the office may deduct any audit,


3.    Page 16, Line 465
    House Committee Amendments
    3-6-2014 :    

             465      incurred in managing the trust fund assets.
{   ]   } .H

    
  (b) The costs and fees described in Subsection (5)(a) are separate from and in addition to the office's operating costs that are paid from the account.      


4.    Page 22, Line 672 :    

             672     
{   Subsections   }        Subsection       (2)(a) or (b) shall be appointed based on the individual's expertise in:

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