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Appropriations panel agrees to interim study on reserve-account consolidation and school funding implications
Summary
Committee members debated bills to simplify reserve accounts and increase investment returns but agreed to send the packages to interim study, citing recent financial changes and potential short-term effects on school funding.
Lawmakers on the Senate Appropriations Committee debated a package of bills designed to simplify state reserve accounts, consolidate unused funds and increase long-term investment returns, then voted to send the proposals to interim study.
Representative Baer and other sponsors described a multi-year effort to “clean up” the state’s financial accounts and to move idle funds into higher-yield reserve accounts so those returns can flow back into the school foundation program and the general fund. Baer said similar work stretches back to about…
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