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Panel advances amended rural community endowment bill to appropriations after changing match and language
Summary
The committee amended and advanced Senate Bill 20‑97, creating a rural community endowment that would not be spent until the fund principal reaches $10 million, at least $5 million of which must be from non-appropriated gifts/donations; committee voted to pass the bill as amended and refer it to Appropriations.
The Political Subdivisions Committee voted to pass amended Senate Bill 20‑97 and re‑refer it to the Appropriations Committee. The bill establishes a rural community endowment with a principal threshold before distributions may be expended.
Representative Moshenbacher explained the amendment’s central feature: the department may not expend monies from the rural community endowment fund until the principal reaches at least $10 million, of which at least $5 million must be derived from gifts, donations, bequests or similar private sources. Moshenbacher said the provision is intended to leverage…
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