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State Treasuries Of The United States - A Snapshot

State treasuries serve as the banks of theraise money to send graduating high school
state; they also manage the money of theseniors to college * Kentucky Teachers'
state, and therefore serve a vital role inRetirement System: Oversees the pensions and
their overall economic success. Universalsavings  of  teachers
among the states of Alabama, Kentucky,
Illinois, New York and Michigan is the roleIllinois  State  Treasury
of the treasurer and their attitudes on
university education. Each department* Agriculture and Alternative Agriculture
functions to invest state funds in order toLoan Program: Offered to farmers or
maximize profit, thereby increasing theiragriculture specialists who produce
revenue so that the public can be betteralternative products such as grapes,
assisted. Each state has an unclaimedstrawberries, or hydroponically grown food.
property fund to help lost items reach theirAlso for those who are in the Christmas Tree
owners, and each state has a savings programgrowing, fish farming or wine-making business
implemented to assist parents in saving for* Bank At School: This program helps
their children's education. Below is a shortelementary school children learn the basics
description of some of the more interestingof money management by partnering a local
programs  and  information  about each state:bank  with a school to run an in-school bank.
Alabama  State  TreasuryNew  York  State  Treasury
* Prepaid Affordable College Tuition* Linked Deposit Program: This program was
Program(PACT):This investing plan helpsstarted to encourage small businesses in the
families by allowing them to purchase astate to invest. Banks offer a 2-3% lower
contract to prepay 135 semester hours ofinterest rate on loans * International Fuel
college tuition at any college or universityTax Agreement project: this plan simplifies
around the country * The Security forhow commercial motor carriers report their
Alabama Funds Enhancement (SAFE): Thisfuel use taxes. With this plan they can buy
program involves banks in securing their ownone license that can be used throughout IFTA
funds by requiring them to pledge collateraljurisdictions.
to the Treasury Department for a collateral
poolMichigan  State  Treasury
Kentucky  State  Treasury* Taxable Tobacco Settlement Asset-Backed
Bonds: the proceeds from the sale of these
* The Treasurer position was among the firstbonds is used to buy tobacco receipts and
created by the state constitution in 1792;proceeds are deposited in the 21st Century
they are elected every four years and act asJobs Trust Fund to create more high-tech
the chief elected fiscal officer * KEESjobs.
program: This is a lottery program set up to



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