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154:1 Committee Established. There is established a committee to study the banking department's role in operating the public deposit investment pool.
154:2 Membership and Compensation.
I. The members of the committee shall be as follows:
(a) One member of the senate, appointed by the president of the senate.
(b) Three members of the house of representatives, appointed by the speaker of the house of representatives; one of whom who shall be a member of the commerce and consumer affairs committee, one of whom who shall be a member of the municipal and county government committee, and one of whom who shall be a member of the ways and means committee.
II. Members of the committee shall receive mileage at the legislative rate when attending to the duties of the committee.
154:3 Duties.
I. The committee shall study:
(a) Moving the public deposit pool from under the banking department's oversight to the treasury;
(b) How other states handle their pool; and
(c) The public deposit investment pool's advisory board's responsibilities, board representation of entities utilizing the pool, and rate of return.
II. The committee may solicit input from other entities of its choosing.
154:4 Chairperson; Quorum. The members of the study committee shall elect a chairperson from among the members. The first meeting of the committee shall be called by the senate member. The first meeting of the committee shall be held within 45 days of the effective date of this section. Three members of the committee shall constitute a quorum.
154:5 Report. The committee shall report its findings and any recommendations for proposed legislation to the president of the senate, the speaker of the house of representatives, the senate clerk, the house clerk, the governor, and the state library on or before November 1, 2022.
154:6 Effective Date. This act shall take effect upon its passage.
Approved: June 07, 2022
Effective Date: June 07, 2022
Text to be added highlighted in green.
154:1 Committee Established. There is established a committee to study the banking department's role in operating the public deposit investment pool.
154:2 Membership and Compensation.
I. The members of the committee shall be as follows:
(a) One member of the senate, appointed by the president of the senate.
(b) Three members of the house of representatives, appointed by the speaker of the house of representatives; one of whom who shall be a member of the commerce and consumer affairs committee, one of whom who shall be a member of the municipal and county government committee, and one of whom who shall be a member of the ways and means committee.
II. Members of the committee shall receive mileage at the legislative rate when attending to the duties of the committee.
154:3 Duties.
I. The committee shall study:
(a) Moving the public deposit pool from under the banking department's oversight to the treasury;
(b) How other states handle their pool; and
(c) The public deposit investment pool's advisory board's responsibilities, board representation of entities utilizing the pool, and rate of return.
II. The committee may solicit input from other entities of its choosing.
154:4 Chairperson; Quorum. The members of the study committee shall elect a chairperson from among the members. The first meeting of the committee shall be called by the senate member. The first meeting of the committee shall be held within 45 days of the effective date of this section. Three members of the committee shall constitute a quorum.
154:5 Report. The committee shall report its findings and any recommendations for proposed legislation to the president of the senate, the speaker of the house of representatives, the senate clerk, the house clerk, the governor, and the state library on or before November 1, 2022.
154:6 Effective Date. This act shall take effect upon its passage.
Approved: June 07, 2022
Effective Date: June 07, 2022