SENATE AMENDMENT

    Bill No. CS for SB's 2422 & 1952

    Amendment No.    

                            CHAMBER ACTION
              Senate                               House
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11  Senator Latvala moved the following amendment:

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13         Senate Amendment 

14         On page 5, between lines 2 and 3,

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16  insert:

17         (d)  Notwithstanding the provisions of paragraph (c),

18  moneys in the endowment may be managed as an annuity. Under

19  this option, the investment objective shall be long-term

20  preservation of the real value of the original principal and a

21  specified regular annual cash outflow for appropriation. The

22  schedule of annual cash outflow shall be included within the

23  investment plan adopted pursuant to paragraph (a).

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25  (Redesignate subsequent paragraphs.)

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