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Committee adopts bill to direct new license-plate fees and endowment dollars to State Historical Society
Summary
The committee passed a substitute for House Bill 324 directing a $2-per-plate capped fee and a one-time $3.5 million endowment payment to the State Historical Society, producing an estimated $1 million annually under current assumptions.
Representative Peterson, the bill sponsor, told the committee House Bill 324’s substitute clarifies several funding streams to the Utah State Historical Society.
The substitute directs $2 from each sale of a specific license plate toward the historical society, which Peterson and sponsors said should work out to a $500,000 annual cap from plate revenues. The substitute also appropriates a one-time $3.5 million payment to an existing historical society endowment (which Peterson said is currently “a little over $6,000,000”), bringing the endowment to roughly…
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