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Institutions and Appropriations members agree to consult on cash-fund "up to 4%" language
Summary
Representative (Chair), Legislative Institutions Committee, told the committee a small group that included members of House Appropriations had met and raised three issues related to the capital cash fund: whether statute should say a flat 4% rather than "up to 4%" of the general fund minus debt service; what the proper starting point is for any multi‑year look‑back; and how to treat cash that remains unencumbered after two years.
Representative (Chair), Legislative Institutions Committee, told the committee a small group that included members of House Appropriations had met and raised three issues related to the capital cash fund: whether statute should say a flat 4% rather than "up to 4%" of the general fund minus debt service; what the proper starting point is for any multi‑year look‑back; and how to treat cash that remains unencumbered after two years.
The discussion matters because the cash fund is the Legislature’s ongoing tool for paying for capital projects without bonding. “I hope we can keep the 4% which is proposed,” said Jim Harrison, a member of the House Appropriations Committee, describing the view from Appropriations that now is not the time to lock a higher or mandatory percentage into statute given…
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