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Committee OKs amendment consolidating revenue stabilization into budget stabilization fund
Summary
The House Committee on Ways and Means voted to report HB 678 as amended, a constitutional amendment to repeal the revenue stabilization trust fund and redirect mineral revenue deposits into the budget stabilization (rainy day) fund to grow it toward roughly $3,000,000,000.
The House Committee on Ways and Means voted to report HB 678 as amended, a constitutional amendment that would modify the disposition of state revenues by repealing the revenue stabilization trust fund and changing deposits of mineral revenues into the budget stabilization fund.
Chairwoman Emerson said the measure began as a broader Article VII rewrite but was narrowed; she described the change as a funds-combination effort and said the statutory…
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