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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 the board could accept gifts, grants and donations from public or private sources. Caitlin Jensen, executive director of 0 to 5 Montana, supported the bill, calling the $150 million seed a sustainable funding source that other states have used to support early‑childhood services without ongoing appropriations. "Investing in early childhood strengthens families, improves communities, enhances workforce development, and boosts Montana's economy," Jensen said.
Tracy Moseman, administrator for the Early Childhood and Family Support Division at DPHHS, attended as an informational witness and offered technical assistance to the committee. Senators raised technical rulemaking questions about whether boards created by the bill would have rulemaking authority requiring agency status; Smith and committee members agreed the language may need technical fixes. Senator Esp and others discussed private funding, with Smith saying the bill intentionally preserved the ability to accept private contributions and cited potential interest from large foundations.
The committee moved to executive action on SB 565 and the clerk conducted a roll call vote. The clerk read member names and recorded individual votes; the clerk announced the final tally as 12 yes and 10 no and declared SB 565 passed the Senate Finance and Claims committee.
Committee members directed staff to review and resolve technical notes (for example board rulemaking authority) prior to further action. The bill will proceed with the committee's do‑pass recommendation and the sponsor and staff will coordinate on any needed clarifying amendments.
