Idaho State Statutes - Idaho Attorney Directory

DEPOSIT AND DISTRIBUTION OF EARNINGS RESERVE FUNDS -- INCOME
FUNDS -- ADMINISTRATIVE COSTS. (1) As directed by the state board of land
commissioners, the investment board shall distribute the earnings from the
investments or securities in accordance with this act and the laws governing
the respective endowment funds. Earnings from the investment of permanent
endowment funds related to state land grants shall be deposited into each
endowment's respective earnings reserve fund for distribution as provided in
this section.
(2) At least annually, the state board of land commissioners shall
distribute moneys constituting earnings reserve funds, in excess of the amount
necessary to pay administrative costs, to the income funds of the respective
endowments, to each endowment's respective permanent endowment fund or
maintained as a free fund balance in the earnings reserve funds, in amounts to
be determined by the state board of land commissioners.
(3) Moneys in the earnings reserve funds shall be available for
appropriation by the legislature to pay for administrative costs incurred
managing the assets of the endowments including, but not limited to, real
property and monetary assets.

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