REAGAN MONUMENT FUND H.B. 6033: COMMITTEE SUMMARY
House Bill 6033 (as passed by the House)
Sponsor: Representative Leon Drolet
House Committee: Government Operations
Senate Committee: Local, Urban and State Affairs
Date Completed: 12-2-04
CONTENT
The bill would create the "Ronald Wilson Reagan Memorial Monument Fund Act" to establish the Ronald Wilson Reagan Memorial Monument Fund as a separate fund in the Department of Treasury to finance the construction and maintenance of a monument dedicated to the memory of the former president. The bill is tie-barred to House Bill 6034, which would create the "Ronald Wilson Reagan Memorial Monument Fund Commission Act" to govern the Fund and provide for the construction of the Monument.
Under House Bill 6033, the State Treasurer would have to credit to the Monument Fund the money appropriated to it, money accepted by the Commission that House Bill 6034 would create, and all interest that accrued on money in the Fund. The Commission could use Fund money to oversee the financing, design, and construction of a memorial monument dedicated to Ronald Wilson Reagan, as described by House Bill 6034. The State Treasurer would have to seek appropriate Federal tax status for the Fund.
After the construction of the monument was completed and all amounts due in connection with its construction were paid, any balance remaining in the Monument Fund would have to used to maintain the monument.
Legislative Analyst: J.P. Finet
FISCAL IMPACT
The bill would have a minimal fiscal impact on the Department of Treasury related to the creation and maintenance of the Ronald Wilson Reagan Memorial Monument Fund. The bill would not commit State funds for the monument.
Fiscal Analyst: Bill Bowerman
Analysis was prepared by nonpartisan Senate staff for use by the Senate in its deliberations and does not constitute an official statement of legislative intent. hb6033/0304