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Senate approves substitute joint resolution with intent language clarifying treatment of fund income
Summary
Senators passed the First Substitute Senate Joint Resolution 2, including circulated intent language clarifying that 'interest' does not include appreciation and describing how dividend/interest income may be treated; sponsor provided fund balances and five‑year totals during floor discussion.
The Senate passed First Substitute Senate Joint Resolution 2 on January 30 and included legislative intent language circulated on the floor clarifying treatment of fund income.
Sponsor Senator Hilliard said the treasurer's office and legislative legal counsel drafted the intent language to make explicit that "interest does not include the appreciation of values of…
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