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Committee approves bill allowing Board of Investments to retain interest on workforce-housing fund for prison and hospital employees
Summary
SB223 clarifies that the Board of Investments may retain interest and income from a $12 million workforce housing fund used to build short-term rental units for entry-level staff near correctional and mental-health facilities; the BOI director said the Pindler Meadows project currently has 28 units under construction and a lottery for employee assignments opens soon. The committee passed SB223.
Senator John Esp (Senate District 29) opened a hearing on Senate Bill 223, describing it as a technical correction to a prior session's amendment that changed the original trust fund to a state special revenue fund. He said SB223 authorizes the Board of Investments to retain interest and income from the fund so those earnings can be reused for upkeep and to seed down payments for employees after five-year leases.
Dan Veil, identified…
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