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State Treasurer outlines proposal for long-term generational investment accounts; committee defers amendments for further review
Summary
The State Treasurer presented a proposal to create generational investment accounts funded by periodic transfers to capture long-term compounded returns; the committee discussed amendments and deferred further action.
The State Treasurer presented a multi-decade plan to create a generational investment account designed to capture compounded returns for long-term state uses such as school funding, infrastructure or future tax relief. The proposal described periodic transfers (sponsor referenced a $100 million annual example for 30 years) into a permanent account intended to preserve principal and distribute a portion of investment earnings to general purposes on a long timeframe.
In his presentation the treasurer emphasized compound returns and long horizons: he described a 10% assumed long‑run return scenario and said, “If…
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