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House approves bill letting utility cooperatives use surplus unclaimed funds for scholarships
Summary
Housepassed HB111 allows cooperative utilities to use surplus unclaimed property funds for local scholarships after meeting low-income utility needs; sponsors said co-op bylaws already prioritize low-income assistance and this provides an avenue for surplus use. The bill passed 71-1.
The Utah House approved House Bill 111, which would allow cooperative utility companies to use excess unclaimed property funds to provide scholarships for local students after ensuring low-income utility assistance needs have been met.
Sponsor Representative Beverly Ann Evans told colleagues the bill is narrow in scope and applies only to cooperatives, which she said already prioritize low-income assistance in their bylaws. During floor questioning Representative Stevens asked whether the legislation should explicitly require low-income priorities to be satisfied before scholarships are funded; Evans said cooperative bylaws already address that and waived summation.
The House voted 71 yes and 1 no to pass HB111 and forward it to the Senate.
All quotes and vote counts come from the House transcript.
