Get Full Government Meeting Transcripts, Videos, & Alerts Forever!
Lawmakers press treasurer on proposal to take $15M from higher‑ed fund; treasurer previews unclaimed‑property changes to support Vermont Saves
Summary
Members questioned how a governor-recommended $15 million withdrawal would reduce future scholarship dollars; Deputy Treasurer David Sherritt said the treasurer would only support statutory changes with agreement from the three beneficiaries and previewed an omnibus bill to raise the unclaimed-property threshold to support Vermont Saves and funnel remaining funds to higher ed.
At a Feb. 18 House Appropriations Committee hearing, lawmakers probed the fiscal and policy consequences of two separate proposals affecting the Vermont Higher Education Endowment Trust Fund.
Chair (Unidentified) told the panel the governor had recommended ‘‘taking $15,000,000 out’’ of the fund for an administration project that would require statutory change. Committee members warned that reducing principal would shrink future distributions: ‘‘You are reducing the principal by $15,000,000, which means that the interest available is going to be less, and it's gonna be less in scholarships over time because... the…
Already have an account? Log in
Subscribe to keep reading
Unlock the rest of this article — and every article on Citizen Portal.
- Unlimited articles
- AI-powered breakdowns of topics, speakers, decisions, and budgets
- Instant alerts when your location has a new meeting
- Follow topics and more locations
- 1,000 AI Insights / month, plus AI Chat
