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House Rejects Amendment to Automatically Send Rainy‑Day Interest to School Fund, Passes HB298
Summary
Lawmakers debated whether interest above a $500 million cap in the Budget Reserve (Rainy Day) Fund should be earmarked for the Uniform School Fund; an amendment to direct excess interest to schools failed 34–35, but the underlying HB298 bill passed the House 66–4.
The Utah House of Representatives on the floor debated a contested amendment to House Bill 298, a measure dealing with the Budget Reserve Account and money management rules, before approving the main bill.
Representative James Hansen offered Amendment No. 3 to direct interest earned on Rainy Day Fund balances above a $500 million cap into the Uniform School Fund. Hansen argued the change would create a new source for education…
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