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Appropriations committee approves HB1046 as amended, including deposit to unclaimed-property trust fund
Summary
The Joint Committee on Appropriations voted 11-7 to move House Bill 1046 as amended, a supplemental bill that includes deposits to the unclaimed-property trust fund and allocations for maintenance and repair, tech college equipment and infrastructure projects including Richmond Lake Dam.
The Joint Committee on Appropriations voted 11-7 to pass House Bill 1046 as amended, advancing a supplemental package that directs money to the state's unclaimed-property trust fund and provides funding for maintenance and repair of state buildings and other projects.
Committee members debated whether placing the unclaimed-property dollars into a trust fund would restrict access to those reserves if the state faced budget stress. Jim Twilley of the Bureau of Finance and Management told the committee that currently the interest on the unclaimed-property trust fund is available for appropriation.
"That interest basically is available for the legislature to appropriate through the general general fund. And so that's the way it's set…
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