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Utah Senate moves $225 million to cash for prison funding, avoids bonding
Summary
The Utah Senate passed SB3001 in a special session to shift roughly $225 million from planned bonds into cash appropriations for the new state prison construction, a move sponsors said avoids borrowing costs; the vote was 26-0 with three absent and the bill was sent to the House.
The Utah State Senate voted to pass Senate Bill 3001 on final passage, moving roughly $225 million in planned bond financing to state cash to fund ongoing construction of a new prison. The measure passed on voice/roll-call counts announced by the clerk: 26 yea, 0 nay, 3 absent, and was sent to the Utah House for consideration.
Sponsor Senator Jerry Stevenson, introducing the bill, said legislators had already appropriated cash previously for the project and that the state’s current revenue outlook made it unnecessary to issue bonds now. “At the present time, we just do not need…
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