S.B.
59
INDEPENDENT ENTITIES FINANCIAL TRANSPARENCY DISCLOSURE
Senate Committee
Amendments
Amendment 1 February 14, 2014 10:44 AM
Senator Todd Weiler
proposes the following amendments:
1. Page
1, Lines 15 through 17
:
15
. requires an independent entity, except the Workers' Compensation Fund
and the Utah State
Retirement Office
, to report
16
financial information on the Utah Public Finance Website or via a link to its own
17
website through the Utah Public Finance Website;
2. Page
2, Lines 42 through 43
:
42
(b) "Independent entity" does not include
:
(i)
the Workers' Compensation Fund created in
43
Section
31A-33-102
{
.
}
; or
(ii) the Utah State Retirement Office created in Section 49-11-201.
3. Page
5, Line 127 through Page 6, Line 157
:
127
{
(6) (a) The Utah State Retirement Office, created in Section
49-11-201
, shall provide
128
the following financial information to the division for posting on the Utah Public Finance
129
Website or via a link to a website administered by the Utah State Retirement Office:
130
(i) administrative expense transactions from its general ledger accounting system; and
131
(ii) employee compensation information.
132
(b) For purposes of this part, the office is not required to submit to the division or
133
provide a link to other financial information, including:
134
(i) revenue transactions of the:
135
(A) Utah State Retirement Investment Fund created in Section
49-11-301
; and
136
(B) Public Employees' Trust Fund created in Section
49-20-104
;
137
(ii) member account balances and transactions;
138
(iii) fiduciary or commercial information related to any subject if the disclosure of the
139
information:
140
(A) would conflict with fiduciary obligations; or
141
(B) is prohibited by insider trading provisions; and
142
(iv) information of a commercial nature, including information related to:
143
(A) account owners, borrowers, and dependents;
144
(B) demographic data;
145
(C) contracts and related payments;
146
(D) negotiations;
147
(E) proposals or bids;
148
(F) investments;
149
(G) the investment and management of funds;
150
(H) fees and charges;
151
(I) plan and program design;
152
(J) investment options and underlying investments offered to account owners;
153
(K) marketing and outreach efforts;
154
(L) lending criteria;
155
(M) the structure and terms of bonding; and
156
(N) financial plans or strategies.
}
157
{
(7)
}
(6)
(a) The Utah Capital Investment Corporation, created in Section
63M-1-1207
, shall
4. Page
7, Line 185
:
185
[(6)]
{
(8)
}
(7)
A person who negligently discloses a record that is classified as private,
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