Bill > SB536

This bill creates the "Real Estate Fund" in the state treasury, which will consist of money received from the sale of real property owned by the state of Missouri. The fund will be administered by the commissioner of administration or their designee, with the state treasurer serving as the fund's custodian. The purpose of the fund is to acquire interests in real property to support state operations. Money deposited into the fund will include proceeds from real property transactions involving state-owned property and any funds appropriated by the general assembly. The commissioner of administration is required to prepare an annual report detailing the fund's receipts and expenditures, and any money remaining in the fund at the end of the fiscal year will not revert to the general revenue fund. Instead, the state treasurer will invest the fund's money in the same manner as other state funds, with any earned interest credited back to the Real Estate Fund. This bill aims to provide a dedicated mechanism for managing and reinvesting proceeds from state property sales, potentially giving the state more flexibility in managing its real estate assets.

Government Affairs

https://www.senate.mo.gov/25info/BTS_Web/Bill.aspx?SessionType=R&BillID=1473188