[As Amended by House Committee of the Whole]          

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Session of 2000
          HOUSE BILL No. 2559           By Committee on Appropriations           3-15          

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10             AN  ACT concerning the state treasurer; relating to [powers, duties and
11             functions relating to certain bonded public debt; disposition of
12             certain state general fund revenues and] municipal bond program
13             fees; amending K.S.A. 10-506, 10-603 and 10-627 and repealing the
14             existing sections.
15      
16       Be it enacted by the Legislature of the State of Kansas:
17        [New Section  1. (a) In any year in which the sum of the amount
18       by which the actual general fund receipts for the fiscal year ending
19       in such year exceeds the original joint estimate of revenue to the
20       state general fund for that fiscal year prepared pursuant to K.S.A.
21       75-6701, and amendments thereto, as adjusted for legislative
22       changes during May of such calendar year, by more than
23       $50,000,000, 50% of such amount shall be transferred from the
24       state general fund to the state debt reduction fund.
25             [(b) There is hereby established in the state treasury the state
26       debt reduction fund which shall be administered by the state trea-
27       surer. All expenditures from the state debt reduction fund shall be
28       for the purpose of providing funding for retirement or defease-
29       ment of bonds issued for programs and capital improvement pro-
30       jects for state agencies which bonds become defeasible or callable
31       during the fiscal year for which the fund is appropriated or to
32       otherwise offset outstanding state debt to be retired from pay-
33       ments from the state general fund. Such expenditures shall be
34       made by the state treasurer in consultation with the Kansas de-
35       velopment finance authority upon warrants of the director of ac-
36       counts and reports issued pursuant to vouchers approved by the
37       state treasurer or the treasurer's designee.
38             [(c) On or before the 10th day of each month, the director of
39       accounts and reports shall transfer from the state general fund to
40       the state debt reduction fund interest earnings based on: (1) The
41       average daily balance of moneys in the state debt reduction fund
42       for the preceding month; and (2) the net earnings rate of the
43       pooled money investment portfolio for the preceding month.]

2
  1             Section  1. [Sec. 2.] K.S.A. 10-506 is hereby amended to read as fol-
  2       lows: 10-506. The state treasurer shall open an account on his or her
  3       books, to be known as the ``fiscal agency commission fund,'' to which shall
  4       be credited deposit all sums received under the provisions of K.S.A. 10-
  5       505. At the end of the fiscal year all sums credited to this fund shall be
  6       turned into the general revenue fund of the state, and amendments
  7       thereto, in the state treasury and credit it to the bond services fee fund
  8       established under K.S.A. 10-108, and amendments thereto.
  9             Sec.  2. [3.] K.S.A. 10-603 is hereby amended to read as follows: 10-
10       603. On the maturity of any registered bond, it shall be forwarded by the
11       holder to the state treasurer, who shall collect the same and pay the
12       proceeds to the last registered holder thereof. All fees collected under
13       the provisions of this act shall be deposited in the state treasury and
14       credited to the general fund of the state bond services fee fund established
15       under K.S.A. 10-108, and amendments thereto.
16             Sec.  3. [4.] K.S.A. 10-627 is hereby amended to read as follows: 10-
17       627. The transfer agent may charge to the presentor of a bond a transfer
18       fee in an amount not to exceed the amount fixed by the state treasurer.
19       The state treasurer shall fix the amount of the fee on July 1, 1983, and
20       may adjust the amount annually thereafter. All fees collected by the state
21       treasurer under the provisions of the Kansas bond registration law shall
22       be deposited in the state treasury and credited to the bond services fee
23       fund established under K.S.A. 10-108, and amendments thereto. 
24       Sec.  4. [5.] K.S.A. 10-506, 10-603 and 10-627 are hereby repealed.
25        Sec.  5. [6.] This act shall take effect and be in force from and after
26       its publication in the statute book.