Sec. 3-27a. Short Term Investment Fund. Payment of certain interest to board or boards of trustees. Participation certificates.
Sec. 3-27a. Short Term Investment Fund. Payment of certain interest to board
or boards of trustees. Participation certificates. There is hereby created a Short Term
Investment Fund to be administered by the State Treasurer. The State Treasurer may
sell participation certificates of the Short Term Investment Fund for investment to the
General Fund, bond funds, the Special Transportation Fund, the Local Bridge Revolving
Fund, the Educational Excellence Trust Fund, the Residential Property Tax Revaluation
Relief Fund, the Municipal Abandoned Vehicle Trust Fund, the Special Abandoned
Property Fund, trust funds administered by the Treasurer and all such other funds the
moneys of which by law the Treasurer is responsible for investing. Said participation
certificates shall bear and pay such interest and be issued subject to such terms and
conditions as shall be determined and established by the State Treasurer. The interest
derived from the investment or reinvestment of funds of The University of Connecticut
Operating Fund and The University of Connecticut Health Center Operating Fund, The
University of Connecticut Research Foundation, The University of Connecticut Health
Center Research Foundation, the Connecticut State University System Operating Fund,
the Connecticut State University System Research Foundation, and the Regional Community-Technical Colleges Operating Fund, as authorized by sections 10a-105, 10a-110a, 10a-130, 10a-99 and 10a-77, respectively, and the Board for State Academic
Awards educational services account, as authorized by section 10a-143, shall be paid
to each board or board of trustees respectively.
(1972, P.A. 236, S. 1; P.A. 74-342, S. 9, 43; P.A. 75-568, S. 1, 45; P.A. 78-236, S. 8, 20; 78-257, S. 1, 2; P.A. 80-377,
S. 1, 2; P.A. 81-468, S. 4, 11; P.A. 82-218, S. 39, 46; June Sp. Sess. P.A. 83-30, S. 5, 8; P.A. 84-254, S. 14, 62; 84-365,
S. 6, 12; P.A. 85-554, S. 3, 6; P.A. 86-395, S. 3, 10; P.A. 87-377, S. 2, 5; July Sp. Sess. P.A. 87-1, S. 7, 9; P.A. 88-270, S.
2, 8; P.A. 89-260, S. 1, 41; P.A. 90-147, S. 16, 20; 90-230, S. 3, 101; P.A. 91-256, S. 2, 69; P.A. 92-126, S. 12, 48; P.A.
04-216, S. 59.)
History: P.A. 74-342 changed highway fund to transportation fund; P.A. 75-568 deleted reference to transportation
fund which was merged with general fund; P.A. 78-236 replaced "combined investment pool" with "short term investment
fund"; P.A. 78-257 provided that interest from investments of auxiliary services and extension funds be paid to applicable
boards of trustees; P.A. 80-377 included the board for state academic awards educational services fund among those entitled
to interest payments; P.A. 81-468 included interest derived from investment of the resources of the tuition funds of The
University of Connecticut and The University of Connecticut Health Center; P.A. 82-218 replaced "state colleges" with
"Connecticut State University", effective March 1, 1983, pursuant to reorganization of higher education system; June Sp.
Sess. P.A. 83-30 authorized treasurer to sell participation certificates of short term investment fund for investment to
special transportation fund; P.A. 84-254 authorized treasurer to sell participation certificates of the short term investment
fund for investment to the local bridge revolving fund; P.A. 84-365 amended section to include reference to tuition funds
established for the regional community colleges, state technical colleges and Connecticut State University; P.A. 85-554
amended section to add a reference to the educational excellence trust fund; P.A. 86-395 authorized treasurer to sell
participation certificates of short term investment fund for investment to rental housing assistance trust fund, effective
June 9, 1986, and applicable to income years of business firms commencing on or after January 1, 1986, but not later than
January 1, 1988; P.A. 87-377 removed reference to repealed rental housing assistance trust fund; July Sp. Sess. P.A. 87-1 added the residential property tax revaluation relief fund to list of state funds to which treasurer may sell participation
certificates of the short term investment fund; P.A. 88-270 added a reference to the municipal abandoned vehicle trust
fund; P.A. 89-260 substituted "regional technical colleges" for "state technical colleges"; P.A. 90-147 and P.A. 90-230
substituted the board for state academic awards educational services account for the board for state academic awards
educational services fund; P.A. 91-256 made technical changes concerning the names of the funds at the different constituent
units of the state system of higher education; P.A. 92-126 replaced references to community college operating fund and
technical college operating fund with reference to community-technical college operating fund; P.A. 04-216 added the
Special Abandoned Property Fund to the list of funds to which participation certificates may be sold, effective May 6, 2004.