S257 - Appropriations Act of 2017. (SL 2017-57)

Overview: Sec. 13A.2 of S.L. 2017-257 makes several changes to the statute governing the administration by the Wildlife Resources Commission (WRC) of the Wildlife Endowment Fund. This fund receives the proceeds from the sale of lifetime hunting and fishing licenses:

• 2013 legislation added to the Wildlife Endowment Fund statute a requirement that the Wildlife Resources Commission budget 50% of the annual expendable interest from the Fund whenever the Fund's cash balance exceeds one hundred million dollars. Subsection 13A.2(a) amends the statute to reduce this budgeting requirement to 25% of the annual expendable interest.
• Section 13A.2 also amends the statute governing the investment of the Wildlife Endowment Fund by the State Treasurer to allow investment of Fund assets in equity securities and certain other private equity investment categories.

This section became effective July 1, 2017.