2005 Idaho Code - 67-1610 — CAPITOL PERMANENT ENDOWMENT FUND

                                  TITLE  67
                      STATE GOVERNMENT AND STATE AFFAIRS
                                  CHAPTER 16
                         CAPITOL BUILDING AND GROUNDS
    67-1610.  CAPITOL PERMANENT ENDOWMENT FUND. (1) There is hereby created a
permanent fund within the state treasury to be known as the capitol permanent
endowment fund, consisting of, from this point forward: (a) the proceeds of
the sale of lands granted to the state of Idaho for the purpose of
facilitating the construction, repair, furnishing and improvement of public
buildings at its capitol by an Act of Congress (26 Stat. L. 214, ch. 656
(1890) (as amended)) entitled "An Act to Provide for the Admission of the
State of Idaho into the Union," comprising thirty-two thousand (32,000) acres,
or any portion thereof, or mineral therein; (b) earnings of the capitol
permanent endowment fund; (c) proceeds of the sale of timber growing upon
capitol endowment lands; (d) proceeds of leases of capitol buildings endowment
lands; (e) proceeds of interest charged upon deferred payments on capitol
buildings endowment lands or timber on those lands; (f) all unappropriated and
unencumbered moneys in the public building fund shown on the state
controller's chart of accounts as the capitol permanent endowment fund; (g)
retained earnings to compensate for the effects of inflation; and (h)
legislative appropriations. The fund shall be managed by the endowment fund
investment board in accordance with chapter 5, title 68, Idaho Code.
    (2)  On July 1 of each fiscal year, the endowment fund investment board
shall distribute to the capitol endowment income fund created in section
67-1611, Idaho Code, an amount equal to a percentage approved by the board of
the value of the capitol permanent endowment fund that is calculated to
provide a stable source of moneys to allow for the maintenance, repair and
restoration of the capitol, while still preserving and increasing over time
the value of the capitol permanent endowment fund.