67-1610A. CAPITOL MAINTENANCE RESERVE FUND. (1) There is hereby created a permanent fund within the state treasury to be known as the capitol maintenance reserve fund.
(2) The fund shall receive distributions from the capitol permanent endowment fund, as provided in section 67-1610, Idaho Code, and shall be managed by the endowment fund investment board in accordance with the provisions of chapter 5, title 68, Idaho Code.
(3) Except as provided for in subsection (4) of this section, all moneys in the capitol maintenance reserve fund shall be used exclusively by the capitol commission to address repair, maintenance and construction needs approved by the commission to benefit the capitol building and its grounds; provided that moneys from the fund shall also be used to pay for administrative costs incurred managing the assets of the capitol permanent endowment including, but not limited to, real property and monetary assets. All expenditures from the capitol maintenance reserve fund shall be subject to appropriation by the legislature.
(4) Upon request of the capitol commission, the endowment fund investment board shall distribute from the capitol maintenance reserve fund to the capitol commission operating fund created in section 67-1611, Idaho Code, an amount determined by the capitol commission to be sufficient to cover the operation, activities and projects of the capitol commission.
History:
[67-1610A, added 2013, ch. 111, sec. 2, p. 266.]
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