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Committee advances $150 million early‑childhood endowment bill with interest‑only spending
Summary
Senators heard testimony on Senate Bill 565 to create a $150 million Montana endowment for early childhood; sponsor Senator Laura Smith said only interest would be available for programs and the endowment could accept private gifts; the committee approved a do‑pass recommendation by roll call (12–10).
Senate Bill 565, introduced by Senator Laura Smith, would establish a Montana endowment for early childhood funded by a one‑time $150 million general‑fund transfer. "SB 565 creates a Montana endowment for early childhood, establishes the board and creates a fee for renewal of lapsed childcare licenses," Smith said, and added that only interest earned by the endowment would be available for expenditure.
Smith said the endowment would be administratively attached to the Department of Public Health and Human Services (DPHHS) and that…
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