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Sponsor outlines $100 million Cole Trust endowment proposal; fiscal witnesses say transfer not from coal funds
Senate Education and Cultural Resources Committee · January 28, 2025
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Summary
SB 159 would move $100 million from the general fund into a Cole Trust endowment to generate proceeds for education-related programs and remove a tax-credit sunset; Department of Revenue officials said the transfer would not reduce coal severance trust funds.
Senator Daniel Emmerich opened the hearing on Senate Bill 159 by describing the bill as the creation of an endowment fund within the Cole Trust. Emmerich said the bill would transfer $100 million from the general fund into an endowed fund; proceeds would be split to grow the fund and support education-related…
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