KS HB2577

Bill

Providing discretionary authority to the state treasurer to transfer moneys certified as equivalent to the aggregate net amount received for unclaimed property to the KPERS board and to liquidate such moneys for further investment by the pooled money investment board or for necessary payments to owners of unclaimed property.

Introduced
01/24/2024

In Committee
03/18/2024

Crossed Over
02/22/2024

Passed
04/05/2024

Dead

Signed/Enacted/Adopted
04/25/2024

Introduced Session

2023-2024 Regular Session

Bill Summary

AN ACT concerning state moneys; relating to the investment and management thereof; providing discretionary authority to the state treasurer to transfer moneys certified as equivalent to the aggregate net amount received for unclaimed property to the board of trustees of the Kansas public employees retirement system and to liquidate such moneys for investment by the pooled money investment board or for necessary payments to owners of unclaimed property; amending K.S.A. 2023 Supp. 75-2263 and repealing the existing section.

AI Summary

This bill provides the state treasurer with discretionary authority to transfer moneys certified as equivalent to the aggregate net amount received for unclaimed property to the Kansas Public Employees Retirement System (KPERS) board. The treasurer can liquidate these moneys for further investment by the Pooled Money Investment Board or for necessary payments to owners of unclaimed property. The bill also outlines the KPERS board's responsibilities in managing and investing these moneys, including the requirement to exercise prudent judgment and diversify investments to minimize risk.

Committee Categories

Business and Industry, Labor and Employment

Sponsors (0)

No sponsors listed

Other Sponsors (1)

Financial Institutions and Pensions (House)

Last Action

House Approved by Governor on Thursday, April 18, 2024 (on 04/25/2024)

Official Document

https://kslegislature.org/li/b2023_24/measures/hb2577/

Version:

Document Type	Source Location
State Bill Page	https://kslegislature.org/li/b2023_24/measures/hb2577/
BillText	http://kslegislature.org/li/b2023_24/measures/documents/hb2577_enrolled.pdf
BillText	http://kslegislature.org/li/b2023_24/measures/documents/hb2577_02_0000.pdf
Senate Committee on Financial Institutions and Insurance Report	https://kslegislature.org/li/b2023_24/measures/documents/cr_2024_hb2577_s_3613.pdf
Analysis - Supplemental Note: As Amended by Senate Committee	https://kslegislature.org/li/b2023_24/measures/documents/supp_note_hb2577_02_0000.pdf
Analysis - Supplemental Note: {As Amended by House Committee of the Whole}	https://kslegislature.org/li/b2023_24/measures/documents/supp_note_hb2577_01_0000.pdf
BillText	http://kslegislature.org/li/b2023_24/measures/documents/hb2577_01_0000.pdf
House Floor Amendment (Committee of the Whole - Motion to Amend - Offered by Representative Hoheisel)	https://kslegislature.org/li/b2023_24/measures/documents/fa_2024_hb2577_h_3114.pdf
Analysis - Supplemental Note: As introduced	https://kslegislature.org/li/b2023_24/measures/documents/supp_note_hb2577_00_0000.pdf
House Committee on Financial Institutions and Pensions Report	https://kslegislature.org/li/b2023_24/measures/documents/cr_2024_hb2577_h_2989.pdf
BillText	http://kslegislature.org/li/b2023_24/measures/documents/hb2577_00_0000.pdf

Bill > HB2577

summary

Introduced Session

Bill Summary

AI Summary

Committee Categories

Sponsors (0)

Other Sponsors (1)

Last Action

Official Document

bill text

bill summary

bill summary

bill summary