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House bill would move Board of Investments to a fiduciary restricted‑account structure; board says change increases transparency and could save general‑funds
Summary
A House bill would let the state Board of Investments operate some funds as restricted fiduciary accounts; board leadership said the change increases accountability, removes an internal working‑capital requirement and could return several million dollars to the general fund in the first biennium.
Representative Ken Walts introduced House Bill 9 19 to authorize the state Board of Investments to operate selected agencies’ funds in a restricted fiduciary account fund type rather than as internal service funds. The sponsor framed the change as technical and operational: the Board of Investments expects the move to allow more efficient management of assets held in a trustee capacity and to generate additional revenue that could offset the board’s operating costs.
Dan Villa (presented as the…
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