| 1 | Representative Allen offered the following: |
| 2 |
|
| 3 | Amendment (with title amendment) |
| 4 | Remove lines 1766-1778 and insert: |
| 5 | (3) The Executive Office of the Governor is authorized to |
| 6 | competitively procure the services of a private business entity |
| 7 | for the purposes of identifying, evaluating, and executing |
| 8 | investment instruments in appropriate energy and aerospace |
| 9 | opportunities and will be responsible for conduct of investment |
| 10 | due diligence, execution, and monitoring of investment |
| 11 | instruments on behalf of the F.E.A.T. Fund, either in direct |
| 12 | investment or through participation in investment partnerships |
| 13 | established for the purposes of advancing the objectives of the |
| 14 | fund. |
| 15 | (4) The entity selected to represent the F.E.A.T. Fund |
| 16 | shall have investment discretion in any investment or |
| 17 | partnership that it enters into on behalf of the F.E.A.T. Fund, |
| 18 | subject to the limit of the funds made available to it for |
| 19 | investment purposes, and shall not represent or commit the full |
| 20 | faith and credit of the state. |
| 21 | (5) A complete and detailed report shall be provided to |
| 22 | the Governor, the President of the Senate, and the Speaker of |
| 23 | the House of Representatives by March 1, 2008, setting forth all |
| 24 | of the following: |
| 25 | (a) An accounting of all state funds committed and |
| 26 | invested by the fund. |
| 27 | (b) A qualitative and quantitative assessment of each fund |
| 28 | investment against the investment performance goals established |
| 29 | for investment, as well as an assessment of overall fund |
| 30 | performance against investment objectives established for the |
| 31 | fund. |
| 32 | (c) An evaluation of all activities of the fund and |
| 33 | recommendations for change. |
| 34 | (6) Funds appropriated for the purposes of the F.E.A.T. |
| 35 | Fund shall be deposited in the Grants and Donations Trust Fund |
| 36 | in the Executive Office of the Governor. |
| 37 |
|
| 38 |
|
| 39 | ======= T I T L E A M E N D M E N T ======= |
| 40 | Remove line 165 and insert: |
| 41 | Energy, Aerospace, and Technology (F.E.A.T.) Fund; authorizing |
| 42 | the Executive Office of the Governor to procure the services of |
| 43 | a private business entity; providing requirements and procedures |
| 44 | therefor; requiring that certain funds be deposited in the |
| 45 | Grants and Donations Trust Fund; |