Other LanguagesThe Legislature may by law authorize the investment of moneys in the Permanent Common School Fund, and may define by statute the manner in which such funds may be invested.
Membership in the State Investment Board includes the State Treasurer and one member each of the House of Representatives and the Senate. Members of the Board are subject to the Executive Conflict of Interest Act, chapter 42.18 RCW. Although the Act does not apply to elected state officers and legislators when they are acting in their capacity as elected officials, these elected officials are subject to the Act when they are acting in their capacity as a member of the Board.
1.The State Treasurer may invest funds contained in the natural resources deposit fund established pursuant to RCW 43.85.130(1)(c), except for funds derived from the sale or disposition of public lands.2.The State Investment Board may invest funds contained in the natural resources deposit fund and derived from the sale or disposition of public lands, and held in a temporary depository, pursuant to RCW 43.33A.010.3.The State Treasurer may, pursuant to RCW 43.84.080, invest funds in the resource management cost account (RCW 79.64.020).4.The State Treasurer may, pursuant to RCW 43.84.090, deduct twenty percent of all income received from the investment of the surplus contained in the natural resources deposit fund and the resource management cost account, except for income from the investment of trust moneys; this income must be apportioned to the appropriate funds pursuant to RCW 79.64.055.5.RCW 43.84.090 does not authorize the State Treasurer to deduct any portion of income received from the investment of trust funds which obtain their revenue from the management of trust lands; the Legislature could authorize such a deduction to the extent consistent with general trust principles.