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Committee hears bill to create cash-management board, sponsor seeks amendment giving Bank of North Dakota larger role
Summary
House Finance and Tax Committee heard testimony on House Bill 12‑78 to create a cash-management board that would implement an interim cash‑management study; sponsor asked the committee to adopt an amendment shifting operational duties toward the Bank of North Dakota. No formal committee vote was recorded.
Chairman Hedlund opened a hearing on House Bill 12‑78, which would create a board to follow through on recommendations from an interim comprehensive cash‑management study intended to improve returns on state cash.
Representative Mike Lefour, sponsor of the bill and a member from District 37, told the House Finance and Tax Committee the legislation would create a board composed of legislative designees, Office of Management and Budget representatives, the state treasurer, the Bank of North Dakota and a governor’s appointee. "In the original version of the bill that you have in front of you, many of the duties were assigned to the state treasurer. However, I'm providing [an] amendment ...…
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