The State Board of Administration seeks to amend the rule listed above to adopt the revised Investment Policy Statements for the Local Government Surplus Funds Trust Fund and the Fund B Surplus Funds Trust Fund, to state the effective date of such ...

STATE BOARD OF ADMINISTRATION

RULE NO.: RULE TITLE:
19-7.002: Investment Policy Guidelines
PURPOSE AND EFFECT: The State Board of Administration seeks to amend the rule listed above to adopt the revised Investment Policy Statements for the Local Government Surplus Funds Trust Fund and the Fund B Surplus Funds Trust Fund, to state the effective date of such statements, and to indicate how these documents may be obtained.
SUMMARY: Rule 19-7.002, F.A.C., is being amended to adopt the revised Investment Policy Statements for the Local Government Surplus Funds Trust Fund and the Fund B Surplus Funds Trust Fund, and to indicate how these documents may be obtained.
SUMMARY OF STATEMENT OF ESTIMATED REGULATORY COSTS AND LEGISLATIVE RATIFICATION:
The Agency has determined that this will not have an adverse impact on small business or likely increase directly or indirectly regulatory costs in excess of $200,000 in the aggregate within one year after the implementation of the rule. A SERC has not been prepared by the agency.
No Statement of Estimated Regulatory Cost was prepared for the rule. Upon review of the proposed changes to the rule and the incorporated Investment Policy Statements, the State Board of Administration of Florida has determined that the preparation of a Statement of Estimated Regulatory Costs is not necessary and the rule does not meet the statutory threshold for ratification by the legislature. The changes to this rule do not have an adverse impact on small business and do not directly or indirectly increase regulatory costs in excess of $200,000 in the aggregate within 1 year of implementation. The changes to this rule also do not directly or indirectly have an adverse impact on economic growth, private sector job creation or employment, or private sector investment, business competitiveness or innovation or increase regulatory costs, including any transactional costs, in excess of $1 million in the aggregate within 5 years after the implementation of either rule.
Any person who wishes to provide information regarding a statement of estimated regulatory costs, or provide a proposal for a lower cost regulatory alternative must do so in writing within 21 days of this notice.
RULEMAKING AUTHORITY: 218.412, 218.421(1) FS.
LAW IMPLEMENTED: 218.405(1), (2), (3), (4), 218.409(2), (9), 218.415(17), 218.418, 218.421(2) FS.
IF REQUESTED WITHIN 21 DAYS OF THE DATE OF THIS NOTICE, A HEARING WILL BE HELD AT THE DATE,TIME AND PLACE SHOWN BELOW(IF NOT REQUESTED, THIS HEARING WILL NOT BE HELD):
DATE AND TIME: March 5, 2012, 9:00 a.m. (ET) to conclusion of meeting.
PLACE: Room 116 (Hermitage Conference Room), 1801 Hermitage Blvd., Tallahassee, Florida 32308
Pursuant to the provisions of the Americans with Disabilities Act, any person requiring special accommodations to participate in this workshop/meeting is asked to advise the agency at least 5 days before the workshop/meeting by contacting: Tina Joanos, Agency Clerk, Office of the General Counsel, State Board of Administration, 1801 Hermitage Blvd., Suite 100, Tallahassee, FL 32308, [phone], [e-mail]. If you are hearing or speech impaired, please contact the agency using the Florida Relay Service, 1(800)955-8771 (TDD) or 1(800)955-8770 (Voice).
THE PERSON TO BE CONTACTED REGARDING THE PROPOSED RULE IS: Ruth A. Smith, Assistant General Counsel, State Board of Administration, P. O. Box 13300, Tallahassee, FL 32317-3300, telephone [phone], [e-mail]

THE FULL TEXT OF THE PROPOSED RULE IS:

19-7.002 Investment Policy Statements Guidelines.

The Local Government Surplus Funds Trust Fund Investment Pool (Non-Qualified) Investment Policy Statement Guidelines, as approved by the Trustees of the State Board of Administration on June 16, 2011 July 28, 2009, and made effective July 1, 2011 2009, http://www.flrules.org/Gateway/reference.asp?No=Ref-01000, is are hereby adopted and incorporated by reference. The Fund B Surplus Funds Trust Fund (Non-Qualified) Investment Policy Statement, as approved by the Trustees of the State Board of Administration on June 16, 2011, and made effective July 1, 2011, http://www.flrules.org/Gateway/reference.asp?No=Ref-01001, is hereby adopted and incorporated by reference. The Investment Policy Statements Guidelines may be obtained by contacting: State Board of Administration, 1801 Hermitage Blvd., Suite 100, Tallahassee, Florida 32308, Attn.: Local Government Investment Pool Program, or by accessing the sbafla.com website, and clicking on the Florida PRIME heading under the Related Websites section. The Investment Policy Statement for the Local Government Surplus Funds Trust Fund (Non-Qualified) can be obtained under the Risk Management and Oversight section. The Investment Policy Statement for the Fund B Surplus Funds Trust Fund (Non-Qualified) can be obtained under the Fund B section.

Rulemaking Authority 218.412, 218.421(1) FS. Law Implemented 218.405(1), (2), (3), (4), 218.409(2), (9), 218.415(17), 218.418, 218.421(2) FS. History–New 12-13-09, Amended________.

NAME OF PERSON ORIGINATING PROPOSED RULE: Michael McCauley
NAME OF AGENCY HEAD WHO APPROVED THE PROPOSED RULE: The Trustees of the State Board of Administration of Florida
DATE PROPOSED RULE APPROVED BY AGENCY HEAD: January 18, 2012
DATE NOTICE OF PROPOSED RULE DEVELOPMENT PUBLISHED IN FAW: Vol. 37, No. 44, November 4, 2011