Providing procedures, standards and requirements for the deposit and investment of public moneys, creating the public moneys fee fund and authorizing the state treasurer to assess a fee to operate the public moneys pooled method, making and concerning appropriations for fiscal year 2027 for the office of the state treasurer, authorizing a certain transfer from the state general fund to the public moneys fee fund, modifying investment standards for the board of trustees of the Kansas public employees retirement system of moneys certified by the state treasurer as equivalent to the aggregate net amount received for unclaimed property and authorizing investments in certain foreign governments and the KPERS board of trustees to elect the vice chairperson of the board, requiring newly affiliated KP&F employers to contribute at the actuarial required rate for past and future service and repealing certain working after retirement statutes for state and local elected officials.
What changed between versions
Created a new 'public moneys fee fund' and authorized a $250,000 transfer from the state general fund to support the State Treasurer's operations starting in 2026.
Updated the requirements for banks and municipalities to enter written agreements with the State Treasurer and increased the security value needed to hold public deposits.
Authorized the State Treasurer to assess fees for operating the public moneys pooled method, with no statutory limit on the amount.
Revised the composition and term limits of the public employees' retirement system board, including changes to how members are appointed and confirmed.
Altered the statutory language defining the retirement system and the roles of board members, specifically regarding inactive members and election eligibility.
Adjusted effective dates and term expirations for board members, with specific provisions for members serving on the bill's effective date.