WA People
BILL · 2007–08 SESSION · LATEST VERSION SHB 3149

HB 3149: Investment board personnel

Changing state investment board personnel compensation provisions.

Summary

  • Establishes an appropriated retention pool within the State Investment Board (Board) Expense Fund for Board investment officers.
  • Directs the Board to maintain the investment officer retention pool according to a performance management and compensation program developed by the Board to address recruitment and retention issues, and reward performance.
  • Limits compensation and incentives for investment officers to the average of total compensation provided by other state or public funds of similar size.
  • Increases the limit on annual investment officer incentive and retention increases from an average of 5 percent to 30 percent.

From the Substitute House Bill Report (SHB 3149), written by the Legislature's nonpartisan staff. Read the full report ↗

Enacted Enacted · Chapter 236, Laws of 2008
  1. IntroducedJan 23, 2008
  2. Out of committeeFeb 11, 2008
  3. Passed HouseFeb 18, 2008
  4. Passed SenateMar 7, 2008
  5. GovernorMar 28, 2008
  6. LawApr 1, 2008
Prime sponsor
Helen Sommers (D-36)
Introduced
January 23, 2008 in the House
Last action
April 1, 2008
Session law
Chapter 236, Laws of 2008
Requested by
Other
Companion bill
SB 6755
Budget
Has a fiscal note
Versions
HB 3149, SHB 3149

AN ACT Relating to compensation of state investment board personnel;

Sponsors

Prime sponsor: Helen Sommers (D-36)

7 co-sponsors (5 Democrats, 2 Republicans)

Larry Haler R-8Steve Conway D-29Phyllis Gutierrez Kenney D-46Bill Fromhold D-49Jim McIntire D-46Glenn Anderson R-5Jeannie Darneille D-27

Votes

House · Final Passage

Passed February 18, 2008
Version voted on: SHB 3149
73 Yea 22 Nay 0 Absent 3 Excused
PartyYeaNayAbsentExcused
Democrat62001
Republican112202
How each member voted

Yea (73)

Excused (3)

Permalink to this vote

Senate · 3rd Reading & Final Passage as Amended by the Senate

Passed March 7, 2008
Version voted on: SHB 3149
49 Yea 0 Nay 0 Absent 0 Excused
PartyYeaNayAbsentExcused
Democrat32000
Republican17000
How each member voted

Yea (49)

Permalink to this vote

House · Final Passage as Amended by the Senate

Passed March 11, 2008
Version voted on: SHB 3149
91 Yea 3 Nay 0 Absent 4 Excused
PartyYeaNayAbsentExcused
Democrat62001
Republican29303
How each member voted

Yea (91)

Permalink to this vote

History

  1. Effective date 6/12/2008. (SHB 3149)
  2. Chapter 236, 2008 Laws. (SHB 3149)
  3. Governor signed. (SHB 3149)
  4. Delivered to Governor. (SHB 3149)
  5. Speaker signed. (SHB 3149)
  6. President signed. (SHB 3149)
  7. Passed final passage; yeas, 91; nays, 3; absent, 0; excused, 4. (SHB 3149)
  8. House concurred in Senate amendments. (SHB 3149)
  9. Rules suspended. Placed on Third Reading. (SHB 3149)
  10. Committee amendment adopted with no other amendments. (SHB 3149)
  11. Third reading, passed; yeas, 49; nays, 0; absent, 0; excused, 0. (SHB 3149)
  12. Placed on second reading by Rules Committee. (SHB 3149)
  13. Passed to Rules Committee for second reading. (SHB 3149)
  14. WM - Majority; do pass with amendment(s). (SHB 3149)
  15. First reading, referred to Ways & Means. (SHB 3149)
  16. Third reading, passed; yeas, 73; nays, 22; absent, 0; excused, 3. (SHB 3149)
  17. Rules suspended. Placed on Third Reading. (SHB 3149)
  18. 1st substitute bill substituted. (SHB 3149)
  19. 1st substitute bill substituted.
  20. Placed on second reading. (SHB 3149)
  21. Placed on second reading.
  22. Passed to Rules Committee for second reading. (SHB 3149)
  23. Passed to Rules Committee for second reading.
  24. APP - Majority; 1st substitute bill be substituted, do pass. (SHB 3149)
  25. Minority; do not pass. (SHB 3149)
  26. Minority; do not pass.
  27. APP - Majority; 1st substitute bill be substituted, do pass.
  28. APP - Executive action taken by committee.
  29. First reading, referred to Appropriations.

HB 3149 in other sessions

Bill numbers restart every two years, so the same number is a different bill in each session.

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