CHAPTER 25
TRUST FUNDS AND THEIR MANAGEMENT
25.14 State investment fund.
25.15 Board; purpose and standard of responsibility.
25.156 Powers and duties of members of the board.
25.16 Executive director.
25.167 Chief investment officer.
25.17 Powers and duties of board.
25.18 Additional powers of board.
25.183 Certain investments prohibited.
25.185 Minority financial advisers and investment firms.
25.19 Treasurer; bond; deposit of securities; cash management.
25.295 Heritage state parks and forests trust fund.
25.30 State building trust fund.
25.32 Computer escrow fund.
25.35 State capitol restoration fund.
25.36 Veterans trust fund.
25.37 Wisconsin veterans home members fund.
25.40 Transportation fund.
25.405 Transportation infrastructure loan fund.
25.41 State housing authority reserve fund.
25.42 Wisconsin election campaign fund.
25.43 Environmental improvement fund.
25.44 Farms for the future fund.
25.45 Waste management fund.
25.46 Environmental fund.
25.465 Agrichemical management fund.
25.468 Agricultural chemical cleanup fund.
25.47 Petroleum inspection fund.
25.48 Dry cleaner environmental response fund.
25.50 Local government pooled-investment fund.
25.60 Budget stabilization fund.
25.61 Information technology investment fund.
25.62 Property tax relief fund.
25.65 County mining investment fund.
25.67 Children's trust fund.
25.68 Support collections trust fund.
25.70 Historical society trust fund.
25.72 Historical legacy trust fund.
25.73 Historical society endowment fund.
25.80 Tuition trust fund.
25.90 Energy efficiency fund.
25.95 Universal service fund.
Ch. 25 Cross-reference
Cross-reference: See definitions in s.
24.01.
25.14
25.14
State investment fund. 25.14(1)
(1) There is created a state investment fund under the jurisdiction and management of the investment board (hereinafter referred to as "board") to be operated as an investment trust for the purpose of managing the securities of all the state's funds consisting of the funds specified in
s. 25.17 (1) except the state life fund, fixed retirement investment trust, variable retirement investment trust, capital improvement fund, bond security and redemption fund, state building trust fund, the state housing authority reserve fund, the children's trust fund, the patients compensation fund, the tuition trust fund, funds which under
article X of the constitution are controlled and invested by the board of commissioners of public lands, funds which are required by specific provision of law to be controlled and invested by any other authority, the university trust funds and the trust funds of the state universities except that the respective authorities controlling the investment of any such excluded fund may authorize the transfer of any temporary cash assets of any such excluded fund to the state investment fund in accordance with
subs. (2) and
(3).
25.14(2)
(2) At such time as the board determines, all of the securities held by any of the state's funds, except those specifically excluded in
sub. (1), shall be transferred, at the market value plus accrued interest as of the date of transfer, to the state investment fund together with such amounts of cash as may be required to provide each contributing fund an equity in the state investment fund which may be expressed in terms of even thousands of dollars. Thereafter, the department of administration shall make such subsequent transfers of money between the individual funds and the state investment fund as in its judgment is advisable and in accordance with cash requirements of the individual funds, such transfer to be made on the basis of even thousands of dollars, and it shall furnish to the board such information with respect to daily balances of individual funds within the investment fund as may be required.
25.14(3)
(3) The department of administration, upon consultation with the investment board, shall distribute all earnings, profits or losses of the state investment fund to each participating fund in the same ratio as each such fund's average daily balance within the state investment fund bears to the total average daily balance of all participating funds, except as provided in
s. 14.58 (19) and except that the department of administration shall credit to the appropriation account under
s. 20.585 (1) (jt) an amount equal to the amount assessed under
s. 25.19 (3) from the earnings or profits of the funds against which an assessment is made. Such distribution shall be made at such times as the department of administration may determine, but must be made at least semiannually in each complete fiscal year of operation.
25.14(4)
(4) The department of administration shall maintain such records as may be required to account for each contributing fund's share in the state investment fund.
25.14 Annotation
The investment board is an independent going concern not protected by sovereign immunity. Bahr v. State v. Investment Bd. 186 W (2d) 379, 521 NW (2d) 152 (Ct. App. 1994).
