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House debate centers on arts endowment amendment that would use rainy-day interest to fund grants
Summary
Sponsor Representative Nielsen introduced amendments to HB 46 that would earmark 10% of state surpluses into a restricted arts endowment and use only interest — not principal — to match community arts grants. The House agreed to 'circle' the bill for further study after debate over a $10 million fiscal note and matching rules.
Representative Sam Nielsen, the sponsor of House Bill 46, outlined amendments proposing a new funding mechanism for an arts endowment that would draw only the interest earned on monies set aside, leaving principal in the state’s rainy-day fund untouched. "What we're proposing is that we take the interest off the rainy day fund ... and put it in that box to the right that says endowment funds available for programs," Nielsen told colleagues during floor remarks.
Nielsen said the amendment would earmark 10%…
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