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Representative James Petzke nominated to Idaho Endowment Fund Investment Board
Summary
The Senate State Affairs Committee reviewed the governor's appointment of Rep. James Petzke to the Idaho Endowment Fund Investment Board, discussed statutory legislative membership and executive compensation comparisons for the roughly $3 billion fund; no formal vote on the appointment is recorded in the minutes.
The Senate State Affairs Committee on Feb. 12 considered the governor's appointment of Representative James Petzke to the Idaho Endowment Fund Investment Board (IEFIB).
Representative James Petzke described his background in finance and ownership of e-commerce businesses and said the IEFIB aims to produce stable, long-term returns that help offset costs for public schools and state agencies. Committee members focused questioning on whether legislative membership on the board is required by statute; Petzke confirmed one representative and one senator serve as board members and that he and Sen. Woodward would replace Representative Wroten and Senator Winder.
Committee discussion also addressed pay and governance. Members noted private-sector funds managing roughly $3 billion might compensate top managers at multi‑million‑dollar levels, while the State's top IEFIB management compensation was described in the meeting as about $200,000 per year. The minutes record the committee's review and discussion but do not show a formal committee vote on the appointment in these segments.
The committee did not record further action on the appointment in the minutes excerpt. The committee staff will retain the sign-in sheet, testimonies and related materials with the committee minutes and later file them with the Legislative Services Library.
