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House Revenue Committee advances bill permanently redirecting rainy day fund interest to wildfire programs
Summary
The House Committee on Revenue on June 19 adopted amendment a-24 to House Bill 3940 A, making permanent a diversion of interest that would otherwise go to the state’s rainy day fund and directing projected revenue to two wildfire-related accounts; the committee sent the bill to the floor with a due-pass recommendation.
Chair Nathanson, chair of the House Committee on Revenue, opened a June 19 work session on House Bill 3940 A and the committee voted to adopt amendment a-24 and move the bill to the House floor with a due-pass recommendation.
The amendment makes permanent a policy that was previously limited to the 2025–27 biennium: diversion of interest that would otherwise accrue to the state rainy day fund into two new wildfire-related accounts. Committee staff said the Legislative Revenue Office’s revenue impact statement projects about $14,100,000 into a landscape resiliency fund and about $29,200,000 into a community risk reduction fund under the bill’s assumptions.
Why this matters: supporters said the funding creates ongoing resources for wildfire mitigation and community protection, while opponents cautioned that implementation details remain to be resolved and some funding provisions were moved to other legislation.
Chris, committee staff,…
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