SB 19 by Huffman: Misuse of Rainy Day Fund

SB 19 is the enabling legislation for SJR 5. Ultimately SB 19 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, SJR 5 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 SB 19.