The bill SB 146, as proposed by the Conference Committee, focuses on the Megaprojects Leverage Fund and outlines new provisions for its investment and management. It specifies that all investment earnings on the portfolios must be deposited into the fund, and it mandates that the fund's monies be invested in separate portfolios using the same securities permitted for the general fund. Additionally, the proposed law allows for the fund to cover expenses and costs directly related to its investment activities.

The Conference Committee report also indicates that House Floor Amendments Nos. 1 and 2, which aimed to clarify that the expenses are operating expenses, were rejected. The bill amends existing law to ensure that all interest earnings and investment earnings are properly allocated to the fund, enhancing its financial management and operational capabilities. The bill is set to take effect upon the governor's signature or after the lapse of time for gubernatorial action.

Statutes affected:
SB146 Original: 48:1(B)
SB146 Engrossed: 48:1(B)
SB146 Enrolled: 48:1(B)
SB146 Act 327: 48:1(B)