To amend the rate of return calculation rule to reflect that the calculation will be in accordance with the yield methodology of SEC Rule 2a-7 for money market funds; to amend the reporting procedures rule to eliminate investment service charges; to ...

STATE BOARD OF ADMINISTRATION

RULE NO: RULE TITLE
19-7.010: Pooled Investment Accounts
19-7.011: Rate of Return Calculation
19-7.012: Pool Participation
19-7.013: Reporting Procedures
19-7.015: Allocation of Earnings
19-7.016: Close of Business
19-7.017: Pooled Investment Account Reserve Fund
PURPOSE AND EFFECT: To amend the rate of return calculation rule to reflect that the calculation will be in accordance with the yield methodology of SEC Rule 2a-7 for money market funds; to amend the reporting procedures rule to eliminate investment service charges; to amend the allocation of earnings rule to allow the closing of an account if the balance is less than $1,000; to amend the close of business rule to indicate 1:00 p.m. EST as the close of business; to delete Rules 19-7.012 and 19-7.017, F.A.C.; to update references.
SUBJECT AREA TO BE ADDRESSED: Revised Local Government Surplus Trust Funds account procedures; revised rate of retun calculation; to update references.
SPECIFIC AUTHORITY: 218.405, 218.412 FS.
LAW IMPLEMENTED: 218.405, 218.409, 215.515 FS.
IF REQUESTED IN WRITING AND NOT DEEMED UNNECESSARY BY THE AGENCY HEAD, A RULE DEVELOPMENT WORKSHOP WILL BE HELD AT THE DATE, TIME AND PLACE SHOWN BELOW:
TIME AND DATE: Monday, April 26, 2010, 9:00 a.m. – 11:00 a.m.
PLACE: Room 116 (Hermitage Conference Room), 1801 Hermitage Blvd., Tallahassee, FL 32303
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 2 days before the workshop/meeting by contacting: Tina Joanos, Office of the General Counsel, 1801 Hermitage Blvd., 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 DEVELOPMENT AND A COPY OF THE PRELIMINARY DRAFT, IF AVAILABLE, IS: Ruth A. Smith, Assistant General Counsel, Office of the General Counsel, 1801 Hermitage Blvd., Tallahassee, FL 32308; [phone]; [e-mail]

THE PRELIMINARY TEXT OF THE PROPOSED RULE DEVELOPMENT IS AVAILABLE AT NO CHARGE FROM THE CONTACT PERSON LISTED ABOVE.