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Senate advances constitutional amendment to let Legislature place revenue into permanent trust fund
Summary
Senate passed SJR 2 to allow the Legislature to deposit state revenue into a permanent trust fund similar to the tobacco settlement trust, sparking debate about county impacts and whether mineral-lease or severance taxes should be dedicated. Sponsors said the change only permits — not mandates — deposits and preserves withdrawal safeguards.
The Utah Senate voted to advance Senate Joint Resolution 2, a constitutional amendment that would permit the Legislature to place state revenue into an existing permanent trust fund so interest could be used for public purposes while the principal remains preserved. Senator Sandra Hilliard, sponsor of the resolution, said the change gives the Legislature the option to set money aside from volatile sources such as severance taxes and mineral-lease receipts for future generations.
"What this bill does is simply provide that we now as a legislature, by however we choose to do it, can put money into this trust fund,"…
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