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House approves higher rainy‑day fund cap after debate over use of surpluses
Summary
Lawmakers voted to expand Utah’s rainy‑day fund, adopting amendments to allow accumulation of about $85 million over time and diverting a portion of surplus to reserves; the bill passed the House 49–22 amid debate about tradeoffs with one‑time program funding.
The Utah House passed House Bill 222 on Feb. 22, a measure that raises the cap on the state’s rainy‑day (budget reserve) fund after floor amendments that adjust how surplus funds are transferred.
Representative Olsen, sponsor of the amendment, said the change responds to advice from the governor’s finance office and that modest increases to the reserve would strengthen the state’s fiscal position in light of potential…
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