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House splits on bill to reorganize investment revenue; amendments to protect school funding fail
Summary
Legislators debated Senate File 169, a bill reorganizing several state investment revenue flows. Representatives clashed over whether the bill would guarantee school funding and preserve budget reserves; three separate amendment attempts to protect guaranteed school revenue or preserve reserve flows were defeated.
House members debated multiple second‑reading amendments to Senate File 169, a bill that would restructure how earnings and transfers from state investment accounts flow into the general fund, school accounts and other spending. Representative Harshman, who presented a major amendment intended to preserve a set of guarantees for school funding and keep key transfer rates intact, said the bill as introduced would remove long‑standing guarantees and shift hundreds of millions in revenue off existing streams.
Harshman told the chamber the bill’s fiscal note showed a roughly $134 million annual revenue reduction and a biennial impact on the order of $276 million, numbers he and…
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