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H 371

APPROPRIATIONS – ENDOWMENT FUND INVESTMENT BOARD – Relates to the appropriation to the Endowment Fund Investment Board for fiscal year 2026.

68th Legislature, 1st Regular Session (2025)

House Bill 371 allocates $86,100 to the Endowment Fund Investment Board for FY 2026, boosting employee pay and operational needs by 13.9% to enhance fund management.

Reported Signed by Governor on March 25, 2025 Session Law Chapter 168 Effective: 07/01/2025
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Bill Summary · H 371

Summary of House Bill 371 (H 371)

Overview

House Bill 371 (H 371) is a legislative measure that appropriates additional funds to the Endowment Fund Investment Board for the fiscal year 2026. The bill was introduced on March 6, 2025, and was signed by the Governor on March 25, 2025, with an effective date of July 1, 2025.

Purpose and Intent

The primary purpose of H 371 is to enhance the maintenance budget of the Endowment Fund Investment Board. This enhancement is aimed at addressing critical needs such as employee compensation, general inflation adjustments, and the replacement of essential equipment, including computer hardware.

Key Provisions

  • Total Appropriation: The bill appropriates an additional $86,100 to the Endowment Fund Investment Board.
  • Budget Breakdown:
    • Personnel Costs: $80,000
    • Operating Expenditures: $1,200
    • Capital Outlay: $4,900
  • Total Budget for FY 2026: The overall budget for the Endowment Fund Investment Board will amount to $1,009,500, reflecting a 13.9% increase from the previous fiscal year.

Impact

  • Affected Entities: The Endowment Fund Investment Board, which manages state endowment funds, will directly benefit from this appropriation. The funding is intended to support the board's operational needs and ensure that it can effectively manage its responsibilities.
  • Employee Compensation: The additional funds will help address compensation increases for staff, which is crucial for retaining skilled personnel in the board.
  • Inflation Adjustments: The appropriation also accounts for general inflation, ensuring that the board can maintain its operational capacity without financial strain.

Procedural Timeline

  • Introduced: March 6, 2025
  • Governor's Signature: March 25, 2025
  • Effective Date: July 1, 2025
  • Legislative Actions:
    • The bill passed through various readings and was reported out of committee with a "Do Pass" recommendation before being signed into law.

Conclusion

House Bill 371 represents a strategic investment in the operational capacity of the Endowment Fund Investment Board, ensuring that it can meet its obligations effectively in the upcoming fiscal year. The funding will support essential personnel costs and operational needs, thereby enhancing the board's ability to manage state endowment funds responsibly.

Compiled from official sources — confirm details with the bill’s official record.

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