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Committee hears supporters say allowing market investing for WA Cares could strengthen fund
Summary
Senate Joint Resolution 8201 would amend the Washington Constitution to permit WA Cares long‑term services and supports funds to be invested under law and dedicate any investment income to program beneficiaries; the committee received staff and stakeholder testimony in support.
Committee staff briefed the Appropriations Committee on Senate Joint Resolution 8201, which would amend Article 29, Section 1 of the Washington Constitution to add funds held to provide long‑term services and supports (WA Cares) to the list of state trusts that may be invested “as provided by law,” and to dedicate any investment income to the program’s beneficiaries.
David Pringle described the constitutional constraints that currently restrict many public funds to fixed‑income vehicles and summarized the proposal’s effect: allowing the WA Cares fund to be invested under statutory…
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