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Appropriations panel splits over whether to lock $250 million into permanent savings or keep it available
Summary
Lawmakers in the Joint Appropriations Committee debated a governor request to deposit $250 million into permanent savings, with proponents saying it protects future generations and opponents arguing the Legislature should retain access to funds for near‑term education needs. The committee voted on an amendment to direct the money to the Legislative Stabilization and Reserve Account (LISRA); that amendment passed and the original governor recommendation did not.
Chairman Baer and members of the Joint Appropriations Committee spent more than an hour debating governor’s Letter No. 1, a proposal to deposit $250 million into the state’s permanent savings account. The chair argued the money should instead be placed in the Legislative Stabilization and Reserve Account (LISRA) so future legislatures could access it if education or other priorities face shortfalls.
Proponents of permanent savings warned against departing from a long‑standing policy of putting excess revenue into…
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