[As Amended by House Committee of the
Whole]
As Amended by House Committee
Session of 2000
SENATE BILL No. 487
By Committee on Financial Institutions and
Insurance
1-26
12 AN ACT relating
to state moneys; [powers, duties and functions re-
13 lating to certain
bonded public debt;] amending K.S.A. 75-4203
14 and 75-4204 and
repealing the existing sections.
15
16 Be it enacted by the Legislature of the
State of Kansas:
17 Section
1. K.S.A. 75-4203 is hereby amended to read as follows:
75-
18 4203. The treasurer shall prepare daily
deposits in accordance with K.S.A.
19 75-4206, and amendments thereto. The
director of accounts and reports
20 treasurer shall prepare and provide
a form upon which all daily deposits
21 shall be listed in sufficient detail to
make effective the purposes of this
22 act, and such form shall be called
``daily deposit form.'' the ``daily
cash
23 sheet.'' The daily deposit
form cash sheet shall be completed in
sufficient
24 copies, and there shall be delivered daily
one copy thereof to the director
25 of accounts and reports and one copy shall
be retained by the treasurer.
26 Before any deposit of state moneys is made,
each copy of the daily deposit
27 form cash sheet
shall be signed by the treasurer or a deputy duly author-
28 ized by the treasurer.
29 Sec.
2. K.S.A. 75-4204 is hereby amended to read as follows:
75-
30 4204. All orders of the treasurer
transferring moneys from one state bank
31 account to another shall be signed
both by the treasurer or the
treasurer's
32 duly authorized deputy and director
of accounts and reports or the di-
33 rector's duly authorized
assistant.
34 [New Sec. 3. (a) In any
year in which the sum of the amount
35 by which the actual general fund
receipts for the fiscal year ending
36 in such year exceeds the original joint
estimate of revenue to the
37 state general fund for that fiscal year
prepared pursuant to K.S.A.
38 75-6701, and amendments thereto, as
adjusted for legislative
39 changes during May of such calendar
year, by more than
40 $50,000,000, 50% of such amount shall be
transferred from the
41 state general fund to the state debt
reduction fund.
42 [(b) There is hereby established
in the state treasury the state
43 debt reduction fund which shall be
administered by the state trea-
2
1 surer. All expenditures from the
state debt reduction fund shall be
2 for the purpose of providing
funding for retirement or defease-
3 ment of bonds issued for programs
and capital improvement pro-
4 jects for state agencies. The
Kansas development finance authority
5 shall determine whether optional,
early redemption of bonds
6 which become callable during the
fiscal year for which the state
7 debt reduction fund is
appropriated should be called for redemp-
8 tion or defeasance, or whether it
is more fiscally prudent to make
9 expenditures from the state debt
reduction fund to retire bonds
10 maturing in the fiscal year for which
the state debt reduction fund
11 is appropriated, which bonds would
otherwise be retired from pay-
12 ments from the state general fund. Such
expenditures shall be
13 made in accordance with this section
upon warrants of the director
14 of accounts and reports issued pursuant
to vouchers approved by
15 the state treasurer or the treasurer's
designee.
16 [(c) On or before the 10th day of
each month, the director of
17 accounts and reports shall transfer from
the state general fund to
18 the state debt reduction fund interest
earnings based on: (1) The
19 average daily balance of moneys in the
state debt reduction fund
20 for the preceding month; and (2) the net
earnings rate of the
21 pooled money investment portfolio for
the preceding month.]
22 Sec. 3.
[4.] K.S.A. 75-4203 and 75-4204 are hereby
repealed.
23 Sec. 4.
[5.] This act shall take effect and be in force from
and after
24 its publication in the statute book.