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Proposal redirects $15M higher‑education trust fund allocation toward UVM project and McClellan Hall, would use cannabis excise revenue to backfill
Summary
Committee members discussed a proposal that would reallocate the governor’s $15 million higher‑education trust fund request—$12 million to a UVM multipurpose project, $2.32 million for Freedom & Unity grants and $600,000 for McClellan Hall—paired with routing 20% of cannabis excise tax revenue into the trust fund to replenish the corpus over time.
A funding reallocation proposed during the FY27 review would change how a $15 million higher‑education trust fund request is distributed and identify a revenue stream to replenish the fund.
One committee member explained that the governor had proposed $15,000,000 from the higher‑education trust fund for a UVM project and then outlined an alternative allocation: $12,000,000 to a multipurpose center at the University of Vermont, $2.32 million for Freedom & Unity grants and $600,000…
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