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House backs overhaul to manage school trust lands with independent investment board
Summary
Lawmakers approved first substitute House Bill 168, creating a trustee board and independent investment managers to oversee school and institutional trust funds aimed at increasing returns for public education; the measure passed 72–0 and will go to the Senate.
The Utah House on March 10 approved first substitute House Bill 168 to reorganize management of school and institutional trust funds, creating a five-member board chaired by the State Treasurer and an independent management team to run investments. Representative Mel Brown, who brought the bill to the floor, said the change was intended to improve long-term returns and increase distributions to the…
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