Section 11A.20 Investment of State Treasury Funds Not Currently Needed
11A.20 INVESTMENT OF STATE TREASURY FUNDS NOT CURRENTLY NEEDED.
Subdivision 1.Certification.
When there are funds in the state treasury over and above the amount that the commissioner of management and budget has determined are currently needed, the commissioner shall certify to the state board the amount thereof.
Subd. 2.Investment.
The certified amount of state treasury funds not currently needed shall be invested by the state board subject to the provisions of section 11A.25.
Subd. 3.Crediting of investment income.
Notwithstanding provisions of section 11A.12, all investment income and all investment losses attributable to the investment of state treasury funds, other than the game and fish fund, not currently needed shall be credited to the general fund.
History:
1980 c 607 art 14 s 18; 1981 c 356 s 254; 1Sp1985 c 13 s 77; 2009 c 101 art 2 s 109