Enabling the state treasurer to invest certain fish and game funds.
Impact
The legislative discussion surrounding SB107 indicates that the bill could lead to an increase in available resources for the development and implementation of a comprehensive nongame species management program. With the state treasurer enabled to invest these funds, the state anticipates bolstering its wildlife management efforts. However, the initial fiscal impact is characterized as a decrease in the general fund's interest revenue, as any interest earned from these investments would no longer contribute to the general fund but instead support the nongame species account.
Summary
Senate Bill 107 (SB107) proposes to enable the state treasurer to invest funds specifically from the nongame species special fund. This initiative comes as a request from the fish and game department and aims to enhance the management of nongame wildlife species through improved financial resources. By establishing a separate nonlapsing account within the fish and game fund, the bill facilitates the investment of available funds, including federal contributions and donations, while ensuring that any generated interest is credited back to the same account for further use.
Contention
While the overall sentiment appears supportive, there are underlying concerns regarding the implications of redirecting potential interest income from the general fund. Critics may voice concerns about the allocation of state resources and the prioritization of wildlife fund investments over other pressing state budget needs. Additionally, the bill does not provide new funding or additional positions, which may raise questions about its long-term sustainability and effectiveness depending on the revenue generated from these investments.