reglab/statecodes huggingface dataset:
2023 Kansas Statutes › Chapter 75 - State Departments; Public Officers And Employees › Article 42 - State Moneys › 75-4205 Operating accounts; designation of banks.

75-4205.
Operating accounts; designation of banks.
The board shall designate one or more banks to receive operating accounts. In determining the amount of the award of an operating account to any bank designated under this section therefor, the board shall give consideration to the amount of service to be required of it.
History:
L. 1967, ch. 447, § 5; L. 1968, ch. 236, § 3; L. 1975, ch. 453, § 2; L. 1982, ch. 362, § 2; L. 1986, ch. 332, § 8; L. 1987, ch. 295, § 11; L. 1992, ch. 146, § 12; July 1.
2023 Kansas Statutes › Chapter 75 - State Departments; Public Officers And Employees › Article 42 - State Moneys › 75-4208 Designation of banks to receive state accounts; procedure; award of accounts.

75-4208.
Designation of banks to receive state accounts; procedure; award of accounts.
The board shall follow the procedure prescribed in rules and regulations adopted under the provisions of K.S.A. 75-4232, in designating banks to receive deposit of state moneys in operating accounts and investment accounts. The board shall determine which banks shall receive state operating and investment accounts and shall designate the types of accounts to be awarded each such bank and the initial amount of each award. Such initial awards which are operating accounts shall be made as provided in K.S.A. 75-4205, and amendments thereto. Such initial awards which are investment accounts shall be awarded as is provided in K.S.A. 75-4209, and amendments thereto. Upon making the awards provided for above, the board shall notify each bank of its award, and that the same is subject to approval of securities to be pledged as prescribed in this act.
History:
L. 1967, ch. 447, § 12; L. 1973, ch. 63, § 3; L. 1981, ch. 324, § 26; L. 1989, ch. 48, § 96; L. 1992, ch. 146, § 13; L. 1997, ch. 180, § 22; May 29.
2023 Kansas Statutes › Chapter 75 - State Departments; Public Officers And Employees › Article 42 - State Moneys › 75-4210 Calculation of investment rate.

75-4210.
Calculation of investment rate.
The director of investments shall calculate the investment rate, as defined in subsection (g) of K.S.A. 1997 Supp. 12-1675a, on Monday of each week and publish such rate that week in the Kansas register.
History: L. 1967, ch. 447, § 14; L. 1973, ch. 63, § 1; L. 1975, ch. 453, § 5; L. 1992, ch. 146, § 15; L. 1996, ch. 254, § 18; L. 1997, ch. 180, § 24; May 29.
2023 Kansas Statutes › Chapter 75 - State Departments; Public Officers And Employees › Article 42 - State Moneys › 75-4210a Interest credited to general fund; exceptions.

75-4210a.
Interest credited to general fund; exceptions.
Interest earned on state moneys shall be credited to the state general fund, unless required by law, contract or bequest to be credited to a fund other than the state general fund. When interest earnings are required by law, contract or bequest to be credited to a fund other than the state general fund, such earnings shall be based on the average daily balance in the fund for each month and the net earnings rate of the pooled money investment portfolio for such month unless such law, contract or bequest provides a different method of computing interest earnings.
History:
L. 1975, ch. 453, § 6; L. 1996, ch. 254, § 19; May 23.
2023 Kansas Statutes › Chapter 75 - State Departments; Public Officers And Employees › Article 42 - State Moneys › 75-4212a Operating accounts; insufficient balances; state authorized to borrow or enter into reverse repurchase agreements; limitations.

75-4212a.
Operating accounts; insufficient balances; state authorized to borrow or enter into reverse repurchase agreements; limitations.
Whenever the balance in operating accounts is insufficient to meet the state's obligations or withdrawals from the municipal investment pool fund, and there are state moneys in authorized investments, the director of investments, with approval of the board, may:
(a) Borrow upon the security of any one or more investment accounts an amount sufficient to meet the state's or the municipal investment pool fund's obligations. Any such loan shall be repaid in full within 60 days or prior to July 1, whichever occurs first. Interest payment by the state for any loan under this section shall be made only by way of setoff from interest obligations to the state from the bank making such loan. The amount borrowed under this section from any bank, shall never exceed an amount equal to the amount of state moneys on deposit in such bank; or
(b) enter into reverse repurchase agreements utilizing securities purchased by the board pursuant to subsection (a) of K.S.A. 75-4209, and amendments thereto. Such reverse repurchase agreements may be entered into with banks or primary government securities dealers which report to the market reports division of the federal reserve bank of New York. Expenses of reverse repurchase agreements shall be paid by deducting such expenses against other interest income to the state.
History:
L. 1975, ch. 453, § 12; L. 1992, ch. 146, § 16; L. 1993, ch. 207, § 7; L. 1996, ch. 254, § 20; L. 1997, ch. 180, § 25; May 29.
2023 Kansas Statutes › Chapter 75 - State Departments; Public Officers And Employees › Article 42 - State Moneys › 75-4214 Fee agency accounts; designation or selection of banks or savings and loan association; requirements to hold fee agency account; monthly statement.

75-4214.
Fee agency accounts; designation or selection of banks or savings and loan association; requirements to hold fee agency account; monthly statement.
(a) Any state agency making collection of any moneys, with the approval of the board, may select a bank, savings bank or savings and loan association in the county in which the agency is located to have a fee agency account for the deposit of such moneys.
(b) To be eligible to hold a fee agency account as provided under subsection (a), any designated bank, savings bank or savings and loan association must meet the minimum capital requirements for a commercial bank as required by the federal deposit insurance corporation.
(c) At the end of each month any bank, savings bank or savings and loan association having a fee agency account shall forward to the board a detailed statement of such account.
History:
L. 1967, ch. 447, § 21; L. 1975, ch. 453, § 14; L. 1976, ch. 386, § 8; L. 1986, ch. 333, § 1; L. 1991, ch. 262, § 2; L. 1994, ch. 105, § 5; L. 2001, ch. 5, § 2; July 1.
2023 Kansas Statutes › Chapter 75 - State Departments; Public Officers And Employees › Article 42 - State Moneys › 75-4215 Remittance of state moneys; fee agency accounts; reports; post audit.

75-4215.
Remittance of state moneys; fee agency accounts; reports; post audit.
(a) All moneys collected by any state agency shall be remitted daily to the state treasurer unless otherwise authorized by the board to remit less frequently.
(b) If a state agency is authorized by the board to maintain a fee agency account pursuant to K.S.A. 75-4214, and amendments thereto, any moneys collected by the state agency shall be deposited daily in the fee agency account. Fee agency account balances shall be remitted daily or less often if authorized by the board, to the state treasurer by such agency drawing on such fee agency account all moneys therein except for any balances required for direct refunds of tuition, fees or charges from such fee agency account authorized under K.S.A. 76-738, and amendments thereto. When requested, such agency shall file with the board a detailed and verified report with each deposit showing the sources from which such moneys were received. The board shall have the authority to limit specific types of moneys that can be deposited in a fee agency account.
(c) Fee agency accounts and moneys to be deposited therein shall be subject to post audit under article 11 of chapter 46 of Kansas Statutes Annotated.
History:
L. 1967, ch. 447, § 20; L. 1975, ch. 453, § 9; L. 1977, ch. 300, § 2; L. 1986, ch. 333, § 2; L. 1994, ch. 105, § 6; L. 2001, ch. 5, § 3; July 1.
2023 Kansas Statutes › Chapter 75 - State Departments; Public Officers And Employees › Article 42 - State Moneys › 75-4216 Disposition and accounting of fees.

75-4216.
Disposition and accounting of fees.
The treasurer and director of accounts and reports shall keep an account of all moneys received from each state agency and place the same to the credit of the proper fund and account.
History:
L. 1967, ch. 447, § 22; June 1.
2023 Kansas Statutes › Chapter 75 - State Departments; Public Officers And Employees › Article 42 - State Moneys › 75-4217 Agreement for accounts.

75-4217.
Agreement for accounts.
Awards of all state bank accounts shall be made pursuant to a written agreement between the depository bank and the board. This agreement shall be approved by the board of directors of the depository bank and reflected in the minutes of the board of directors. From the time of execution, the agreement shall remain continuously an official record of the depository bank. Separate agreements shall be entered into for each class of account in each depository bank.
History:
L. 1967, ch. 447, § 19; L. 1994, ch. 105, § 7; L. 1997, ch. 180, § 26; May 29.
2023 Kansas Statutes › Chapter 75 - State Departments; Public Officers And Employees › Article 42 - State Moneys › 75-4218a Security of time deposits under certain statutes.

75-4218a.
Security of time deposits under certain statutes.
Whenever interest bearing time deposits in any commercial bank located in Kansas are authorized by the provisions of K.S.A. 12-3718, 12-3724, 32-858, 40-2307, 58-3029, 68-2311, 75-2527, 75-4254 and 76-2473 and amendments thereto, such deposits shall be secured by pledge of securities as provided in K.S.A. 75-4218, and amendments thereto.
History:
L. 1975, ch. 404, § 11; L. 1989, ch. 48, § 97; L. 1989, ch. 118, § 188; L. 1989, ch. 274, § 5; July 1.
2023 Kansas Statutes › Chapter 75 - State Departments; Public Officers And Employees › Article 42 - State Moneys › 75-4219 Care and handling of security.

75-4219.
Care and handling of security.
The treasurer as custodian of securities deposited by banks, and the sureties of the treasurer shall be responsible for the safekeeping of such securities and shall be liable therefor. The treasurer, upon written application of the bank owning any bonds, shall detach any and all matured coupons and deliver them to the bank, taking proper receipt therefor, which shall be filed in his or her office. Any bank making deposit of securities with the treasurer may cause such securities to be examined in the treasurer's office to show that they are deposited as collateral, and are not transferable except upon the conditions provided in this act.
In any exchange of deposited securities for new securities, the amount of security on deposit at any time shall not be decreased below that otherwise required by this act.
History:
L. 1967, ch. 447, § 8; June 1.
2023 Kansas Statutes › Chapter 75 - State Departments; Public Officers And Employees › Article 42 - State Moneys › 75-4220 Liability of depository banks and affiliates; sale of security.

75-4220.
Liability of depository banks and affiliates; sale of security.
Each depository bank and its agent, trustee, wholly-owned subsidiary or affiliate having identical ownership granting a security interest pursuant to K.S.A. 75-4218, and amendments thereto, shall be liable for payment if: (a) The depository bank fails to: (1) Pay any check, draft or warrant drawn by the treasurer and director of accounts and reports; or (2) account for any check, draft, warrant, order, or certificate of deposit, or any money entrusted to such bank by the treasurer; or (b) a conservator or receiver is appointed for the depository bank.
Any loss incurred by the state by reason of failure by any depository bank to safely keep and account for moneys and interest thereon shall be recovered by the state from the depository bank and a sale of the securities securing payment of such moneys under this act. The attorney general is authorized to prosecute in the name of the state any and all actions for recovery of any loss incurred by the state under this act.
In case of default by any depository bank having a state bank account of any type, the securities securing payment of such account under this act, if not in the possession of the treasurer, shall be transferred to the treasurer by the custodial bank to be sold by the treasurer and payment of the proceeds of such sale shall be made to the state to the extent of the state's interest, subject to the provisions of K.S.A. 75-4221, and amendments thereto.
History:
L. 1967, ch. 447, § 9; L. 1994, ch. 105, § 9; L. 1996, ch. 254, § 22; L. 1997, ch. 180, § 28; May 29.
2023 Kansas Statutes › Chapter 75 - State Departments; Public Officers And Employees › Article 42 - State Moneys › 75-4221 Inadequate security pledged by depository bank; procedures.

75-4221.
Inadequate security pledged by depository bank; procedures.
(a) Any state agency which is authorized to maintain a bank account, shall be responsible for determining that the securities pledged, assigned, deposited or in which a security interest is granted by the depository bank are adequate to secure the balance in the account pursuant to K.S.A. 75-4218, and amendments thereto. The agency shall immediately notify the board if the securities pledged, assigned, deposited or in which a security interest is granted by the depository bank have become inadequate. The board shall immediately notify such depository bank and demand that additional security be pledged to make good such inadequacy and in default of such additional security being promptly furnished, the board shall instruct the treasurer to close the account.
(b) In cases where a depository bank fails to meet the requirements established by the board pursuant to K.S.A. 75-4232, and amendments thereto, the board shall instruct the treasurer to advise the depository bank it must select one of the following options:
(1) Close the account for the full amount, including accrued interest and without penalty if the deposit exceeds seven days; or
(2) convert the account to a repurchase agreement under terms acceptable to the board.
(c) In the event of the insolvency or dissolution from any cause of a depository bank having a state bank account of any type, the state shall be entitled to file a claim for the full amount of such account and shall retain or collect dividends or interest on securities pledged by such depository bank until the amount of the dividends or interest added to the amount realized from sale of any securities so pledged to the state equals the amount of the account and any interest due thereon.
The state shall be fully responsible to any depository bank for the safe return of any securities deposited in the state treasury in accordance with this act.
History: L. 1967, ch. 447, § 10; L. 1994, ch. 105, § 10; L. 2001, ch. 78, § 1; L. 2001, ch. 167, § 7; July 1.
2023 Kansas Statutes › Chapter 75 - State Departments; Public Officers And Employees › Article 42 - State Moneys › 75-4222 Pooled money investment board; appointment of a director of investments; employees; access to certain papers, documents and property; annual report.

75-4222. Pooled money investment board; appointment of a director of investments; employees; access to certain papers, documents and property; annual report.
(a) It shall be unlawful for the pooled money investment board to award a state bank account to any depository bank in which any member of the board is interested as a stockholder or officer, except upon the unanimous vote of the other members of the board.
(b) The board shall appoint a director of investments who shall be in the unclassified service under the Kansas civil service act. The board may appoint investment officers and investment analysts, who shall be in the unclassified service of the Kansas civil service act. In addition the board may appoint such employees as may be needed who shall be in the classified service of the Kansas civil service act.
(c) From and after the effective date of this act, all current employees of the office of the state treasurer performing any responsibilities, powers, duties or functions related to the municipal investment pool fund are hereby transferred to the pooled money investment board. All such employees shall retain all retirement benefits and all rights of civil service which such employees had before the effective date of this act and their service shall be deemed to have been continuous. All such transfers shall be in accordance with civil service laws and rules and regulations.
(d) The employees working for the pooled money investment board shall have access at all times to all papers, documents and property in the custody or possession of the state treasurer that relate to duties of the board, and the state treasurer shall take such steps as may be necessary to make this provision of law effective for such purposes as the pooled money investment board may indicate.
(e) The director of investments shall keep and preserve a written record of the board's proceedings.
(f) The board shall make an annual report to the legislature of the investments by the board of all moneys under the jurisdiction and control of the board, by filing a copy of the report with the chief clerk of the house of representatives and with the secretary of the senate no later than the 10th calendar day of each regular session of the legislature.
History:
L. 1967, ch. 447, § 25; L. 1974, ch. 364, § 36; L. 1975, ch. 454, § 1; L. 1978, ch. 332, § 45; L. 1992, ch. 261, § 1; L. 1994, ch. 105, § 11; L. 1996, ch. 254, § 25; L. 1998, ch. 161, § 4; L. 2016, ch. 47, § 2; May 12.
2023 Kansas Statutes › Chapter 75 - State Departments; Public Officers And Employees › Article 42 - State Moneys › 75-4223 Banks claiming tax exemptions.

75-4223.
Banks claiming tax exemptions.
The board shall not award any bank a state bank account if such bank claims exemption from the payment of any sales or compensating use tax under the laws of this state. The director of taxation shall notify the board at least ten (10) days before any award of state bank accounts of the names and addresses of all banks which have claimed exemption from the payment of any of said taxes.
History:
L. 1967, ch. 447, § 26; June 1.
2023 Kansas Statutes › Chapter 75 - State Departments; Public Officers And Employees › Article 42 - State Moneys › 75-4225 Existing agreements.

75-4225.
Existing agreements.
Nothing contained in this act shall be construed or interpreted to impair the obligation of any contract. This act shall be construed to limit the obligations of the state on any existing contract or agreement for the deposit of public moneys or funds to that which is specifically provided in any such contract to the shortest term or period of time authorized by such contract. All options of the state to terminate in any manner whatsoever any agreement in conflict with the provisions of this act shall be and hereby are exercised. Every state officer, board, commission and employee administering any of the affairs or matters of the state and having the right to exercise such an option is hereby directed to exercise such option under penalty of removal from office or state service and personal liability for any loss resulting therefrom.
History:
L. 1967, ch. 447, § 28; June 1.
2023 Kansas Statutes › Chapter 75 - State Departments; Public Officers And Employees › Article 42 - State Moneys › 75-4226 Interest requirements not to be in violation of federal law.

75-4226.
Interest requirements not to be in violation of federal law.
The interest requirements on investment accounts as provided in this act shall not at any time be in violation of any act of the congress of the United States, or of any rule or regulation of the federal reserve system or the federal deposit insurance corporation, or any other fiscal agency of the United States or created by it. Should the United States or any of its agencies at any time fix the maximum rate of interest which may be paid on investment accounts at an amount lower than the rate at which interest is required to be paid under the provisions of this act, such maximum rates fixed by the United States or its agencies shall become the rate at which interest shall be paid on such accounts.
History:
L. 1967, ch. 447, § 29; L. 1992, ch. 146, § 19; July 1.
2023 Kansas Statutes › Chapter 75 - State Departments; Public Officers And Employees › Article 42 - State Moneys › 75-4228 Criminal and civil liability of treasurer and director of accounts and reports.

75-4228.
Criminal and civil liability of treasurer and director of accounts and reports.
The making of profit by the treasurer or director of accounts and reports out of any moneys in the state treasury, the custody of which the treasurer or director of accounts and reports is charged with, by lending, depositing, or otherwise using, or disposing of the same in any manner whatsoever not provided in this act, or the removal by the treasurer or director of accounts and reports or by such official's consent, of any securities deposited by any bank under the provisions of this act out of the treasury, or failing to return or dispose of any securities as provided by law, shall be deemed a felony, and on conviction thereof, the treasurer or director of accounts and reports shall be punished by imprisonment in the custody of the secretary of corrections for a term of not less than two nor more than five years. In addition to such criminal liability the treasurer or director of accounts and reports and the surety thereof shall also be liable, on official bond, for all profits realized from such unlawful use of any moneys. It shall be the duty of the attorney general to enter and prosecute to final termination all actions for violation of this act.
History:
L. 1967, ch. 447, § 23; L. 1990, ch. 309, § 42; L. 1996, ch. 254, § 23; May 23.
2023 Kansas Statutes › Chapter 75 - State Departments; Public Officers And Employees › Article 42 - State Moneys › 75-4229 Criminal liability of board members.

75-4229.
Criminal liability of board members.
If any member of the board neglects at any time to do or perform any duty required of him or her by this act, he or she shall be deemed guilty of a misdemeanor, and upon conviction thereof shall be sentenced to pay a fine of one thousand dollars ($1,000).
History:
L. 1967, ch. 447, § 24; June 1.
2023 Kansas Statutes › Chapter 75 - State Departments; Public Officers And Employees › Article 42 - State Moneys › 75-4231 Application of act.

75-4231.
Application of act.
The provisions of this act shall apply to all contracts for deposit of state moneys for terms commencing on or after August 1, 1975, and shall not apply to contracts for terms ending prior to August 1, 1975.
History:
L. 1975, ch. 453, § 13; April 25.
2023 Kansas Statutes › Chapter 75 - State Departments; Public Officers And Employees › Article 42 - State Moneys › 75-4232 Investment policies; director of investments to invest state moneys; rules and regulations.

75-4232.
Investment policies; director of investments to invest state moneys; rules and regulations.
State moneys shall be invested and reinvested by the director of investments in accordance with investment policies provided by law, by rules and regulations and published policies of the board. The pooled money investment board shall not contract for management of investments by a money manager. The board shall adopt rules and regulations or published policies pursuant to K.S.A. 75-4209, and amendments thereto establishing investment policies and procedures. Such policies and procedures shall address liquidity, diversification, safety of principal, yield, maturity and quality and capability of investment management, with primary emphasis on safety and liquidity. Such investment policy shall specify when or under what circumstances securities may be disposed of prior to maturity. Such investment policies and procedures shall be reviewed annually by the pooled money investment board.
History:
L. 1992, ch. 146, § 8; L. 1996, ch. 254, § 26; May 23.
2023 Kansas Statutes › Chapter 75 - State Departments; Public Officers And Employees › Article 42 - State Moneys › 75-4233 Application of 1992 act.

75-4233.
Application of 1992 act.
The provisions of this act shall apply to all contracts for deposit of state moneys for terms commencing on or after August 1, 1992, and shall not apply to contracts for terms ending prior to August 1, 1992.
History:
L. 1992, ch. 146, § 27; July 1.
2023 Kansas Statutes › Chapter 75 - State Departments; Public Officers And Employees › Article 42 - State Moneys › 75-4235 Pooled money investment portfolio fee fund; disposition of funds.

75-4235.
Pooled money investment portfolio fee fund; disposition of funds.
(a) The administrative fee authorized by K.S.A. 75-4234 shall be credited to the pooled money investment portfolio fee fund, which is hereby created.
(b) The director of investments may deduct from the pooled money investment portfolio fee fund amounts to pay expenses incurred in the administration of the pooled money investment portfolio. All expenditures from such fee fund for reimbursement of administrative expenses shall be made in accordance with appropriation acts pursuant to vouchers of the director of investments. The director of investments shall certify, periodically, the amount in the pooled money investment portfolio fee fund not necessary for reimbursement of administrative expenses and the director of accounts and reports shall transfer and credit the amount certified in accordance with the provisions of subsection (c).
(c) The total amount transferred pursuant to subsection (b) shall be credited to the municipal investment pool fund until an amount equal to the net losses in such fund as of July 1, 1996, have been credited to such fund, thereafter, the total amount transferred pursuant to subsection (b), shall be credited to the state general fund.
History:
L. 1996, ch. 254, § 2; May 23.
2023 Kansas Statutes › Chapter 75 - State Departments; Public Officers And Employees › Article 42 - State Moneys › 75-4236 Director of investments to invest or reinvest moneys of the state or municipality.

75-4236.
Director of investments to invest or reinvest moneys of the state or municipality.
On and after the effective date of this act, whenever in the law it is provided that the pooled money investment board may or shall invest or invest and reinvest moneys of the state or any state agency or municipality, or words of like effect, the same shall mean that the director of investments may or shall invest or invest and reinvest moneys of the state or such state agency or municipality in accordance with investment policies established by the pooled money investment board under K.S.A. 75-4232, and amendments thereto.
History:
L. 1996, ch. 254, § 3; May 23.
2023 Kansas Statutes › Chapter 75 - State Departments; Public Officers And Employees › Article 42 - State Moneys › 75-4251 Bonds of state agency or authority; investment of "currently surplus bond proceeds" or "surplus proceeds."

75-4251.
Bonds of state agency or authority; investment of "currently surplus bond proceeds" or "surplus proceeds."
Whenever any state agency or authority has issued bonds in accordance with law and has received proceeds from the sale thereof, all of which proceeds are not immediately needed to pay for obligations for which the bonds were issued, such amounts not so immediately needed are referred to in this act as "currently surplus bond proceeds" or "surplus proceeds." Whenever surplus proceeds exist and investment thereof is not specifically prohibited by the statute authorizing the bond issue, or the trust agreement, indenture or resolution under which the bonds were issued, then the surplus proceeds shall be invested as provided in this act, subject only to any limitations contained in the applicable bond statute, trust agreement, indenture and resolution, or any of them.
History:
L. 1973, ch. 359, § 1; July 1.
2023 Kansas Statutes › Chapter 75 - State Departments; Public Officers And Employees › Article 42 - State Moneys › 75-4252 Same; investment of "currently surplus reserve funds" or "surplus reserves."

75-4252.
Same; investment of "currently surplus reserve funds" or "surplus reserves."
Whenever any state agency has issued bonds, and there exists a sinking fund or other reserve fund in connection therewith, and such sinking fund or other reserve fund contains any moneys not immediately needed for payment of the obligations of such sinking fund or other reserve fund, such amounts not so immediately needed are referred to in this act as "currently surplus reserve funds" or "surplus reserves." Whenever surplus reserves exist and investment thereof is not specifically prohibited by the statute authorizing the bond issue, or the trust agreement, indenture or resolution under which the bonds are issued, then the surplus reserves shall be invested as provided in this act, subject only to any limitations contained in the applicable bond statute, trust agreement; indenture and resolution, or any of them.
History:
L. 1973, ch. 359, § 2; July 1.
2023 Kansas Statutes › Chapter 75 - State Departments; Public Officers And Employees › Article 42 - State Moneys › 75-4253 Same; investment of surplus proceeds or reserves.

75-4253.
Same; investment of surplus proceeds or reserves.
Whenever any state agency or authority has issued any bonds in connection with which there exists surplus proceeds or surplus reserves, the director of investments shall have management responsibility to invest the same as required by this act, unless the applicable bond statute, trust agreement, indenture or resolution requires a different management responsibility, in which case the person or agency so specified to have such management responsibility shall invest such surplus proceeds or surplus reserves as provided in this act.
History:
L. 1973, ch. 359, § 3; L. 1976, ch. 386, § 4; L. 1996, ch. 254, § 27; May 23.
2023 Kansas Statutes › Chapter 75 - State Departments; Public Officers And Employees › Article 42 - State Moneys › 75-4254 Bonds of state agency or authority; investments authorized.

75-4254.
Bonds of state agency or authority; investments authorized.
The director of investments may invest and reinvest the moneys of surplus proceeds and surplus reserves in:
(a) Investments enumerated in K.S.A. 10-131, and amendments thereto; or
(b) the pooled money investment portfolio.
History:
L. 1973, ch. 359, § 4; L. 1975, ch. 404, § 9; L. 1987, ch. 295, § 13; L. 1989, ch. 48, § 98; L. 1996, ch. 254, § 28; May 23.
2023 Kansas Statutes › Chapter 75 - State Departments; Public Officers And Employees › Article 42 - State Moneys › 75-4255 Same; custody of moneys; interest or income from investments.

75-4255.
Same; custody of moneys; interest or income from investments.
Except as provided in this section the custody of moneys to which this act applies and securities acquired under authority of this act shall remain in the custody of the state treasurer or in such other custody as may be specifically required by the applicable bond statute, trust agreement, indenture or resolution. The net interest or other income from investments authorized by this act shall be considered income of the fund having such surplus proceeds or surplus reserves.
History:
L. 1973, ch. 359, § 5; July 1.
2023 Kansas Statutes › Chapter 75 - State Departments; Public Officers And Employees › Article 42 - State Moneys › 75-4256 State moneys, investments and funds subject to post audit.

75-4256.
State moneys, investments and funds subject to post audit.
All moneys, investments and funds to which this act applies shall be subject to post audit under article 11 of chapter 46 of Kansas Statutes Annotated.
History:
L. 1973, ch. 359, § 6; L. 1980, ch. 281, § 1; L. 1988, ch. 184, § 8; July 1.
2023 Kansas Statutes › Chapter 75 - State Departments; Public Officers And Employees › Article 42 - State Moneys › 75-4261 Federal revenue sharing fund abolished; transfer of assets and liabilities.

75-4261.
Federal revenue sharing fund abolished; transfer of assets and liabilities.
On July 1, 1985, the director of accounts and reports shall transfer all moneys in the federal revenue sharing fund to the state general fund. All moneys constituting unencumbered balances in accounts in the federal revenue sharing fund on such date shall at the time of transfer be credited to comparable accounts in the state general fund which shall be created by the director of accounts and reports for such purpose. All moneys in the accounts so created are hereby reappropriated for the purposes for which they were originally appropriated from the federal revenue sharing fund. On July 1, 1985, all liabilities of the federal revenue sharing fund are hereby imposed on the state general fund and the federal revenue sharing fund is hereby abolished.
History:
L. 1985, ch. 283, § 1; July 1.
2023 Kansas Statutes › Chapter 75 - State Departments; Public Officers And Employees › Article 42 - State Moneys › 75-4262 Refinancing of loans from PMIB; issuance of bonds; approval procedure; investment of loan repayments.

75-4262.
Refinancing of loans from PMIB; issuance of bonds; approval procedure; investment of loan repayments.
(a) State agencies having statutorily authorized loans from the pooled money investment board are hereby authorized to undertake projects to convert such loans to bond financing in accordance with this section.
(b) No bonds shall be issued for any such project unless: (1) The secretary of administration has determined that it is in the financial best interests of the state; (2) the bonds are sold at public sale; (3) bond counsel provides an opinion that the interest on the bonds is excluded from gross income for federal income tax purposes; and (4) such project has been approved by the secretary of administration. Upon approval by the secretary of administration, any such project is hereby approved for the purposes of subsection (b) of K.S.A. 74-8905, and amendments thereto.
(c) The director of investments is hereby authorized to invest the proceeds of loans repaid pursuant to this section, and interest earnings thereon, in: (1) United States government obligations with maturities no longer than the date the loan from the board was to be repaid; or (2) investments with banks operating in Kansas, at interest rates at or above the average yield that investments in United States securities would earn for similar maturities.
History:
L. 1992, ch. 152, § 1; L. 1996, ch. 254, § 29; May 23.
2023 Kansas Statutes › Chapter 75 - State Departments; Public Officers And Employees › Article 42 - State Moneys › 75-4263 Moneys of state agency or instrumentality; investment in municipal investment pool fund authorized; limitations.

75-4263.
Moneys of state agency or instrumentality; investment in municipal investment pool fund authorized; limitations.
(a) Except as provided in subsection (b), moneys of a state agency or public instrumentality of this state which may be invested by the director of investments in accordance with investment policies established by the pooled money investment board under K.S.A. 75-4232, and amendments thereto, expressly for such agency or instrumentality, or invested directly by the agency or instrumentality, may be invested in the municipal investment pool fund established in K.S.A. 1997 Supp. 12-1677a and amendments thereto. Such agency or instrumentality shall be treated as a municipality for purposes of participation in such fund.
(b) On and after July 1, 1996, state moneys eligible for investment under subsection (a) of K.S.A. 75-4209, and amendments thereto, shall not be invested in the municipal investment pool fund.
History:
L. 1993, ch. 207, § 10; L. 1995, ch. 194, § 4; L. 1996, ch. 254, § 30; L. 1997, ch. 180, § 29; May 29.
2023 Kansas Statutes › Chapter 75 - State Departments; Public Officers And Employees › Article 42 - State Moneys › 75-4267 Reports to governor and legislature, receipts and investment earnings to senior services trust fund.

75-4267.
Reports to governor and legislature, receipts and investment earnings to senior services trust fund.
The board of trustees of the Kansas public employees retirement system shall report to the governor and to the legislature on the moneys credited to the senior services trust fund and investment earnings thereon at least once each calendar quarter and on a monthly basis upon request of the governor, the president of the senate or the speaker of the house of representatives. The director of the budget and the governor shall use the information in such reports in the preparation of the governor's budget report under K.S.A. 75-3721, and amendments thereto.
History:
L. 2000, ch. 105, § 4; April 27.
2023 Kansas Statutes › Chapter 75 - State Departments; Public Officers And Employees › Article 42 - State Moneys › 75-4268 Kansas agricultural production loan deposit program.

75-4268.
Kansas agricultural production loan deposit program.
(a) The provisions of K.S.A. 75-4268 through 75-4274, and amendments thereto, shall be known and may be cited as the Kansas agricultural production loan deposit program.
(b) The provisions of K.S.A. 75-4268 through 75-4274, and amendments thereto, shall be effective on and after July 1, 2000.
History:
L. 2000, ch. 101, § 1; April 27.
2023 Kansas Statutes › Chapter 75 - State Departments; Public Officers And Employees › Article 42 - State Moneys › 75-4269 Same; definitions.

75-4269.
Same; definitions.
As used in K.S.A. 75-4268 through 75-4274, and amendments thereto: (a) "Agricultural production loan deposit" means an investment account placed by the director of investments under the provisions of article 42 of chapter 75 of the Kansas Statutes Annotated with an eligible lending institution for the purpose of carrying out the intent of this act;
(b) "agricultural production loan deposit loan package" means the forms provided by the state treasurer for the purpose of applying for an agricultural production loan deposit;
(c) "eligible lending institution" means:
(1) A bank, as defined under K.S.A. 75-4201, and amendments thereto, that agrees to participate in the Kansas agricultural production loan deposit program and is eligible to be a depository of state funds; or
(2) an institution of the farm credit system organized under the federal farm credit act of 1971 (12 U.S.C. § 2001), as amended, that agrees to participate in the Kansas agricultural production loan deposit program and provides securities acceptable to the pooled money investment board pursuant to article 42 of chapter 75 of the Kansas Statutes Annotated, and amendments thereto; and
(d) "eligible agricultural borrower" means any individual, limited liability agricultural company, limited agricultural partnership or family farm corporation as defined in K.S.A. 17-5903, and amendments thereto, involved in farming.
History:
L. 2000, ch. 101, § 2; April 27.
2023 Kansas Statutes › Chapter 75 - State Departments; Public Officers And Employees › Article 42 - State Moneys › 75-4270 Same; state treasurer administrator of program; purpose; annual report.

75-4270.
Same; state treasurer administrator of program; purpose; annual report.
(a) The state treasurer is hereby authorized to administer the Kansas agricultural production loan deposit program. Such program shall be for the purpose of providing incentives for the making of agricultural production loans. The state treasurer shall promulgate rules and regulations to carry out the provisions of K.S.A. 75-4268 through 75-4274, and amendments thereto.
(b) The state treasurer shall submit an annual report outlining the status of the program to the governor and the legislature.
History:
L. 2000, ch. 101, § 3; April 27.
2023 Kansas Statutes › Chapter 75 - State Departments; Public Officers And Employees › Article 42 - State Moneys › 75-4271 Same; agricultural production loan deposit loan packages; participation in program; requirements.

75-4271.
Same; agricultural production loan deposit loan packages; participation in program; requirements.
(a) The state treasurer is hereby authorized to disseminate information and to provide agricultural production loan deposit loan packages to the lending institutions eligible for participation in this act.
(b) The agricultural production loan deposit loan package shall be completed by the borrower before being forwarded to the lending institution for consideration.
(c) (1) An eligible lending institution that agrees to receive an agricultural production loan deposit shall accept and review applications for loans from eligible agricultural borrowers. The lending institution shall apply all usual lending standards to determine the credit worthiness of eligible agricultural borrowers. No single agricultural production loan deposit loan shall exceed $250,000. The total aggregate amount of agricultural production loan deposit loans under this program shall not exceed $55,000,000 of unencumbered funds pursuant to article 42 of chapter 75 of the Kansas Statutes Annotated, and amendments thereto.
(2) To be eligible to obtain an agricultural production loan, an eligible agricultural borrower must have a debt-to-asset ratio of 40% or greater.
(3) Only one agricultural production loan deposit loan shall be made and be outstanding at any one time to any agricultural borrower.
(4) No loan shall be amortized for a period of more than eight years.
(d) An eligible agricultural borrower shall certify on its loan application that the reduced rate loan will be used exclusively for the operating expenses involved in farming.
(e) The eligible lending institution may approve or reject an agricultural production loan deposit loan package based on the lending institution's evaluation of the eligible agricultural borrowers included in the package, the amount of the individual loan in the package and other appropriate considerations.
(f) The eligible lending institution shall forward to the state treasurer, an approved agricultural production loan deposit loan package, in the form and manner prescribed and approved by the state treasurer. The package shall include information regarding the amount of the loan requested by each eligible agricultural borrower and such other information regarding each eligible agricultural borrower the state treasurer requires, including a certification by the applicant that such applicant is an eligible agricultural borrower.
History:
L. 2000, ch. 101, § 4; L. 2001, ch. 180, § 1; July 1.
2023 Kansas Statutes › Chapter 75 - State Departments; Public Officers And Employees › Article 42 - State Moneys › 75-4272 Same; procedures; agreement.

75-4272.
Same; procedures; agreement.
(a) The state treasurer may accept or reject an agricultural production loan deposit loan package based on the state treasurer's evaluation of whether the loan to the eligible agricultural borrower meets the purposes of this act. If sufficient funds are not available for an agricultural production loan deposit, then the applications may be considered in the order received when funds are once again available subject to a review by the lending institution.
(b) Upon acceptance, the state treasurer shall certify to the director of investments the amount required for such agricultural production loan deposit loan package and the director of investments shall place an agricultural production loan deposit in the amount certified by the state treasurer with the eligible lending institution at an interest rate, which is 2% below the market rate provided in K.S.A. 75-4237, and amendments thereto, and which shall be recalculated on the first business day of January and July of each year using the market rate then in effect. The minimum interest rate shall be .50%, if the market rate is below 2.5%. When necessary, the state treasurer may request the director of investments to place such agricultural production loan deposit prior to acceptance of an agricultural production loan deposit loan package.
(c) The eligible lending institution shall enter into an agricultural production loan deposit agreement with the state treasurer, which shall include requirements necessary to implement the purposes of the Kansas agricultural production loan deposit program. Such requirements shall include an agreement by the eligible lending institution to lend an amount equal to the agricultural production loan deposit to eligible agricultural borrowers at an interest rate which is not more than 4% greater than the interest rate on agricultural production loan deposits as provided in subsection (b), except that for agricultural production loans made commencing on the effective date of this act and ending June 30, 2003, such interest rate shall be 4%. Such rate shall be recalculated on the first business day of January and July of each year using the market rate then in effect. The agreement shall include provisions for the agricultural production loan deposit to be placed for a maturity considered appropriate in coordination with the underlying agricultural production loan. The agreement shall include provisions for the reduction of the agricultural production loan deposit in an amount equal to any payment of loan principal by the eligible agricultural borrower.
History:
L. 2000, ch. 101, § 5; L. 2001, ch. 180, § 2; L. 2003, ch. 31, § 1; L. 2009, ch. 123, § 2; July 1.
2023 Kansas Statutes › Chapter 75 - State Departments; Public Officers And Employees › Article 42 - State Moneys › 75-4273 Same; loans; rate.

75-4273.
Same; loans; rate.
(a) Upon the placement of an agricultural production loan deposit with an eligible lending institution, the institution shall fund the loan to each approved eligible agricultural borrower listed in the agricultural production loan deposit loan package in accordance with the agricultural production loan deposit agreement between the institution and the state treasurer. The loan shall be at a rate as provided in K.S.A. 75-4272, and amendments thereto. A certification of compliance with this section in the form and manner as prescribed by the state treasurer shall be required of the eligible lending institution.
(b) The state treasurer shall take any and all steps necessary to implement the Kansas agricultural production loan deposit program.
History:
L. 2000, ch. 101, § 6; April 27.
2023 Kansas Statutes › Chapter 75 - State Departments; Public Officers And Employees › Article 42 - State Moneys › 75-4274 Same; state and state treasurer not liable to lending institution.

75-4274.
Same; state and state treasurer not liable to lending institution.
The state and the state treasurer shall not be liable to any eligible lending institution in any manner for payment of the principal or interest on the loan to an eligible agricultural borrower. Any delay in payments or default on the part of an eligible agricultural borrower does not in any manner affect the agricultural production loan deposit agreement between the eligible lending institution and the state treasurer.
History:
L. 2000, ch. 101, § 7; April 27.
2023 Kansas Statutes › Chapter 75 - State Departments; Public Officers And Employees › Article 42 - State Moneys › 75-4275 Prohibition on use of funds from deposit to qualify for state tax credits.

75-4275.
Prohibition on use of funds from deposit to qualify for state tax credits.
Any state bank, national banking association or production credit association or agricultural credit association chartered by the farm credit administration under the federal farm credit act, as amended (12 U.S.C. § 2001 et seq.), who claims a tax credit pursuant to K.S.A. 79-1126a or 79-32,181a, and amendments thereto, shall not use any funds from an agricultural production loan deposit, invested pursuant to K.S.A. 75-4268 through 75-4274, and amendments thereto, for agricultural production loans to qualify for the tax credit pursuant to K.S.A. 79-1126a or 79-32,181a, and amendments thereto.
History:
L. 2000, ch. 101, § 12; April 27.
2023 Kansas Statutes › Chapter 75 - State Departments; Public Officers And Employees › Article 42 - State Moneys › 75-4276 Kansas housing loan deposit program.

75-4276.
Kansas housing loan deposit program.
The provisions of K.S.A. 75-4276 through 75-4282, and amendments thereto, shall be known and may be cited as the Kansas housing loan deposit program.
History:
L. 2008, ch. 115, § 2; July 1.