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          Session of 1998
                    HOUSE BILL No. 3007           By Committee on Appropriations           3-10             9             AN ACT concerning the Kansas wheat commission; creating the wheat
10             research reserve fund.
11            
12       Be it enacted by the Legislature of the State of Kansas:
13           Section 1. (a) There is hereby created in the state treasury the wheat
14       research reserve fund. All moneys credited to such fund shall be used
15       solely to replace funding shortfalls in the Kansas wheat commission fund
16       for wheat research and market development. Such expenditures of the
17       Kansas wheat commission shall be made in accordance with appropriation
18       acts upon warrants of the director of accounts and reports issued pursuant
19       to vouchers approved by the administrator or the administrator's desig-
20       nee.
21           (b) No expenditures from the wheat research reserve fund shall be
22       made for wheat research and market development until the Kansas wheat
23       commission has approved the proposed expenditure.
24           (c) On or before the 10th of each month, the director of accounts
25       and reports shall transfer from the state general fund to the wheat re-
26       search reserve fund established in subsection (a) interest earnings based
27       on:
28           (1) The average daily balance of moneys in the wheat research reserve
29       fund; and
30           (2) the net earnings rate of the pooled money investment portfolio
31       for the preceding month.
32           Sec. 2. On July 1, 1998, the director of accounts and reports shall
33       transfer $650,000 from the Kansas wheat commission fund to the wheat
34       research reserve fund.
35           Sec. 3. This act shall take effect and be in force from and after its
36       publication in the statute book.
37      
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