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Sponsor outlines Growth & Opportunity Trust to divert volatile revenue to pensions, bridges, water and childcare
Summary
Representative Lou Jones proposed a Growth & Opportunity Trust that would deposit a portion of defined 'volatile' revenues into a trust and allocate interest and capped distributions for pensions, housing programs, water storage, bridges, childcare and potential tax relief; proponents praised investments in water storage and bridges while opponents urged more study of complexity and coal-trust interactions.
Representative Lou Jones introduced House Bill 924, proposing a Growth & Opportunity Trust designed to capture a share of defined 'volatile' state revenues (capital gains and treasury-cash interest) and channel them into a set of capped, named uses: pension support, housing loans, water storage, bridges, early-childhood investments and an eventual tax-relief distribution once a threshold is reached.
Jones described the concept as a way to turn intermittent windfalls into a long-term trust that provides steadier funding for…
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