ARIZONA HOUSE OF REPRESENTATIVES

Fifty-fourth Legislature

Second Regular Session

Senate: ED DP 9-0-0-0 | 3rd Read 30-0-0-0
House: GOV DP 10-0-0-1 | APPROP 10-0-0-1


SB 1292: financial literacy; state treasurer; fund

Sponsor:  Senator Allen S, LD 6

Caucus & COW

Overview

Requires the State Treasurer to promote awareness of financial literacy and establishes the State Treasurer's Financial Literacy Fund (Fund).

History

Statute directs the State Treasurer to:

1)    Authenticate certified writings and documents with the seal of the office;

2)    Secure all state monies;

3)    File and keep documentation of deposited monies;

4)    Deliver confirmation of deposited monies and provide an identifying number for each confirmation;

5)    Pay warrants drawn by the Arizona Department of Administration (ADOA);

6)    Keep an account of all monies received and disbursed and keep separate accounts of the different funds and appropriations of money;

7)    Provide information on the condition of the state treasury;

8)    Deliver a statement of receipts and expenditures of public monies to the Governor and ADOA;

9)    Submit a report to the Joint Legislative Budget Committee explaining any differences between ADOA's estimate and the State Treasurer's estimate of the General Fund's ending balance; and

10)  Exercise powers of the surveyor-general as a member of the selection board (A.R.S. § 41-172).

Provisions

1.    ☐ Prop 105 (45 votes)	     ☐ Prop 108 (40 votes)      ☐ Emergency (40 votes)	☐ Fiscal NoteRequires the State Treasurer to promote awareness of financial literacy to Arizona residents. (Sec. 1)

2.    Establishes the Fund and states that the Fund consists of:

a)    Legislative appropriations; and

b)    Any other monies available from any lawful public or private source to promote financial literacy in this state. (Sec. 2)

3.    Directs the State Treasurer to invest and divest Fund monies and credit monies earned from investment to the Fund. (Sec. 2)

4.    Exempts Fund monies from statute related to lapsing of appropriations. (Sec. 2)

5.    Makes technical changes. (Sec. 1)

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9.                      SB 1292

10.  Initials SJ/TR        Page 0 Caucus & COW

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