HB 1595 by Bonnen: Misuse of the Rainy Day Fund

HB 1595 is the enabling legislation for HJR 3. Ultimately HB 1595 seeks to change the mechanisms by which money allocated to the fund is dispersed to various higher education institutions across the state using a structured and tiered funding model. With the constitutional amendment, HJR 3 seeking to dedicate a continuous revenue source of interest accrued on money that is part of the Economic Stabilization Fund (ESF) or “Rainy Day Fund”, TFR believes that the ESF was not designed as a slush fund for higher education. For this reason, TFR opposes HB 1595.