2005 Idaho Code - 20-102A — PENITENTIARY EARNINGS RESERVE FUND

                                  TITLE  20
                        STATE PRISON AND COUNTY JAILS
                                  CHAPTER 1
                              STATE PENITENTIARY
    20-102A.  PENITENTIARY EARNINGS RESERVE FUND. (1) There is established in
the state treasury the penitentiary earnings reserve fund. The fund shall be
managed and invested by the endowment fund investment board according to law
and the policies established by the state board of land commissioners. The
fund shall consist of the following:
    (a)  All earnings of the penitentiary permanent endowment fund;
    (b)  Proceeds of the sale of timber growing upon penitentiary endowment
    lands;
    (c)  Proceeds of leases of penitentiary endowment lands;
    (d)  Proceeds of interest charged upon deferred payments on penitentiary
    endowment lands or timber on those lands; and
    (e)  All other proceeds received from the use of penitentiary endowment
    lands and not otherwise designated for deposit in the penitentiary
    permanent endowment fund.
    (2)  Moneys shall be distributed out of the penitentiary earnings reserve
fund only to support the beneficiaries of the penitentiary endowment,
including distributions by the state board of land commissioners to the
penitentiary permanent endowment fund and the penitentiary income fund;
provided, that funds shall not be appropriated by the legislature from the
penitentiary earnings reserve fund except to pay for administrative costs
incurred managing the assets of the penitentiary endowment including, but not
limited to, real property and monetary assets.