HB 965 -- MISSOURI INVESTMENT TRUST

This bill directs the State Treasurer to convey on January 1,
2000, up to 100% of the balances of the Wolfner Library Trust
Fund, the Missouri Arts Council Trust Fund, the Missouri
Humanities Council Trust Fund, and the Pansy Johnson-Travis
Memorial State Gardens Trust Fund to the Missouri Investment
Trust.  On January 2, 2010, all the funds will be reconveyed to
the State Treasurer by the Investment Trust.

HB 965 -- MISSOURI INVESTMENT TRUST (Riback Wilson)

This bill directs the State Treasurer to convey on January 1,
2000, up to 100% of the balances of the Wolfner Library Trust
Fund, the Missouri Arts Council Trust Fund, the Missouri
Humanities Council Trust Fund, and the Pansy Johnson-Travis
Memorial State Gardens Trust Fund to the Missouri Investment
Trust.  On January 2, 2010, all the funds will be reconveyed to
the State Treasurer by the Investment Trust.

FISCAL NOTE:  Net Income to Missouri Investment Trust of
$3,100,00 to $4,800,000 in FY 2000, $0 in FY 2001, and $0 in FY
2002.  Net Cost to Missouri Arts Council Trust Fund of
$3,100,000 in FY 2000, $0 in FY 2001, and $0 in FY 2002.  Net
Cost to Wolfner Library Trust Fund of $0 to $660,000 in FY 2000,
$0 in FY 2001, and $0 in FY 2002.  Net Cost to Pansy Johnson--
Travis Memorial State Gardens Trust Fund of $0 to $780,000 in FY
2000, $0 in FY 2001, and $0 in FY 2002.  Net Cost to Missouri
Humanities Council Trust Fund of $0 to $360,000 in FY 2000, $0
in FY 2001, and $0 in FY 2002.  Total Estimated Net Effect on
All State Funds of $0 in FY 2000, FY 2001, and FY 2002.

HB 965 -- MISSOURI INVESTMENT TRUST

SPONSOR:  Riback Wilson

COMMITTEE ACTION:  Voted "do pass by consent" by the Committee
on Tourism, Recreation and Cultural Affairs by a vote of 17 to 0.

This bill directs the State Treasurer to convey on January 1,
2000, up to 100% of the balances of the Wolfner Library Trust
Fund, the Missouri Arts Council Trust Fund, the Missouri
Humanities Council Trust Fund, and the Pansy Johnson-Travis
Memorial State Gardens Trust Fund to the Missouri Investment
Trust.  On January 2, 2010, all the funds will be reconveyed to
the State Treasurer by the Investment Trust.

FISCAL NOTE:  Net Income to Missouri Investment Trust of
$3,100,00 to $4,800,000 in FY 2000, $0 in FY 2001, and $0 in FY
2002.  Net Cost to Missouri Arts Council Trust Fund of
$3,100,000 in FY 2000, $0 in FY 2001, and $0 in FY 2002.  Net
Cost to Wolfner Library Trust Fund of $0 to $660,000 in FY 2000,
$0 in FY 2001, and $0 in FY 2002.  Net Cost to Pansy Johnson--
Travis Memorial State Gardens Trust Fund of $0 to $780,000 in FY
2000, $0 in FY 2001, and $0 in FY 2002.  Net Cost to Missouri
Humanities Council Trust Fund of $0 to $360,000 in FY 2000, $0
in FY 2001, and $0 in FY 2002.

PROPONENTS:  Supporters say that this legislation will help long
term investing.

Testifying for the bill were Representative Riback Wilson;
Office of the State Treasurer; and Missouri Citizens for the
Arts.

OPPONENTS:  There was no opposition voiced to the committee.

Robert Triplett, Legislative Analyst

HB 965 -- Missouri Investment Trust

Sponsor:  Riback Wilson

This bill directs the State Treasurer to convey on January 1,
2000, up to 100% of the balances of the Wolfner Library Trust
Fund, the Missouri Arts Council Trust Fund, the Missouri
Humanities Council Trust Fund, and the Pansy Johnson-Travis
Memorial State Gardens Trust Fund to the Missouri Investment
Trust.  On January 2, 2020, all the funds will be reconveyed to
the State Treasurer by the Investment Trust.