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Senate advances constitutional amendment to cap and smooth school trust distributions
Summary
Senate Joint Resolution 12 would amend the Utah Constitution to authorize a capped trust distribution (4% maximum) computed on a 12-quarter rolling average and adjusted for enrollment and CPI; the measure moved to third reading and passed a roll-call vote.
Senate Joint Resolution 12, sponsored by Senator Milner, would amend the Utah Constitution to permit a trust distribution formula that caps distributions at 4 percent and computes payouts using a 12-quarter rolling average, with additional modulation for enrollment growth and CPI.
Milner described simulations showing how a rolling-average formula smooths payouts and still allows the fund to grow over time. She told senators the formula is set in statute while the constitutional language limits the maximum distribution.
Senator Hilliard asked about the effect of placing multiple constitutional amendments on the same ballot and whether ballot fatigue could cause voters to reject measures; Milner said she would seek an answer about concurrent measures before further consideration. After brief discussion, Milner moved SJR12 to third reading. The resolution was read for a third time and recorded on a roll call as receiving 26 yay votes, 1 nay and 2 absent.
