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Bill would allow treasurer to invest nongame species funds; agency cites donor interest
Summary
Sen. Tim Lang and Fish & Game witnesses told the committee that Senate Bill 107 authorizes the state treasurer to invest the nongame species account and to credit interest back to the fund; witnesses said donors have offered sizable legacy gifts that would benefit from investment returns.
Senate Bill 107, sponsored by Sen. Tim Lang and presented to the Ways and Means Committee, would authorize the state treasurer to invest funds in the nongame species account and direct that any interest earned be credited back to that account.
Lang said the statutory change is straightforward: it adds language allowing the treasurer to invest Fish & Game's nongame funds and to credit any investment interest back to the nongame species account. He told the committee the agency requested the change so larger donations or matching amounts could earn additional returns while remaining available for nongame species work.
Mike Marchand and Mike Marchand (department representatives) and Mike Manchand (spoke as representative of Fish & Game in support) explained the nongame program's mission. Fish & Game staff said the program handles species that are not typically hunted, fished or trapped and relies heavily on private donations and a statutory general-fund contribution (currently $100,000) that itself requires private matching. The witnesses said donors have inquired about leaving legacy gifts and want those donations to be invested so the account can sustain research, monitoring and technical assistance.
Committee members asked how the funds are currently held and whether the treasurer is already providing any investment services. Witnesses said money has in practice been held in treasury accounts that earn minimal bank interest; the bill explicitly authorizes broader investment by the treasurer in order to increase returns. Representative Schamberg suggested inviting the state treasurer to answer technical questions about possible investment vehicles and expected returns; sponsor Lang suggested an email to the treasurer as a next step.
Action: In executive session the committee voted "ought to pass" on SB 107 (the motion passed by recorded roll call among members present). The vote was recorded as 15 yes with 5 members absent. Committee staff noted the bill carried a fiscal note and would not be placed on the consent calendar.
Ending: Fish & Game said the investment authority would help the nongame program fund long-term monitoring and help secure matching funds for federal grants; the committee asked staff to follow up with the treasurer on technical language for investment authority and interest crediting.
