Transcript Highlights:

• Then on line 132, you'll see the associated revenues for the air appropriation increase.
• Without this additional revenue, the DNR will be forced to make publicly visible reductions to state
• These types of changes would decrease our attendance and our earned revenue.
• only get one-third of our funding from the state, so two-thirds we have to raise by creating earned revenue

Bills: HF2439

Keywords: environmental protection, pollution reduction, waste management, climate change, funding allocations

Transcript Highlights:

• Administrative Procedures... 563 by Gervin Hawkins relating to the establishment of the small municipality revenue
• providing the creation and use of the use of the Grow Texas Fund, and allocating certain general revenues
• Landgraf, proposing a constitution amendment providing for the creation of the Texas severance, tax revenue
• state significantly affected by oil and gas production providing the transfer of certain general revenues

Keywords: 1184, house, all

Transcript Highlights:

• So, retained revenue...
• Joe, I'd like Sheriff McDonald to speak to the piece that's on the retained revenue.
• I don't want to get into a situation where we're retaining any type of revenue.
• I don't want to get into a situation where we're retaining any type of revenue.
• We don't retain any revenue, although we collect penalties and damages...

Keywords: 995, all

Summary: The Joint Committee on Ways and Means held its sixth public hearing on the Governor’s H-2 budget proposal for fiscal year 2026, focused on public safety and judiciary agencies, at the Foxborough Community Center. After opening remarks and local welcomes, the committee heard first from the Executive Office of Public Safety and Security, led by Secretary Gina Kwan, who outlined a $1.72 billion budget, up $69.8 million from FY26. She said the proposal emphasizes core operations, readiness, and partnerships with municipalities, and highlighted work on firearms-law implementation, State Police reform, DOC reentry efforts, hate-crimes prevention, emergency response, and planning for major events including the World Cup. Members also raised concerns about DNA backlog reporting, State Police academy boxing and training standards, ICE communication, disaster relief funding, crime lab staffing, EMS placement, and diversity in public safety leadership. Several exchanges focused on specific operational issues. Secretary Kwan and her team said the State Police are tracking the influx of forensic work from local sheriffs, that the boxing program remains suspended pending an IACP review and likely will not return in its prior form, and that EOPS has no direct communication with ICE but supports law-enforcement coordination where appropriate. On disaster preparedness, officials said the new disaster relief fund is being developed with MEMA and A&F, currently capitalized at $14 million with another $14 million expected, though members urged a more permanent funding source. On the crime lab, staff said the roughly $4.5 million increase is intended to cover core operations and a structural funding gap rather than expand services. The secretary also said EOPS is not ready to absorb OEMS from DPH at this time, though she would keep an open mind. The committee then heard from district attorneys, led by Suffolk County DA Kevin Hayden, who said the Massachusetts District Attorneys Association is seeking a 10% increase in operating budgets, including about $16.7 million for staffing salaries, to recruit and retain prosecutors, advocates, and support staff. He said the request reflects rising workload and the need to keep the criminal justice system functioning efficiently and fairly. The hearing was recessed briefly after the district attorneys’ opening remarks, with additional testimony expected to continue afterward.

Transcript Highlights:

• legislators and state leaders got from the people who monitor our budget, our bank accounts, and revenue
• , individual market revenues.
• which could result or to raise revenues which could result um<00:57:16.480> in<00:57:16.640><
• Nelman, I think of our general fund revenues, I think income tax is about half.
• I think of our general fund revenues,<01:04:42.240> I<01:04:42.400> think<01:04:42.559>

Keywords: 918, senate, all

Summary: The Senate Rules and Administration Select Subcommittee on Federal Impacts on Minnesotans and Economic Stability met on February 20, 2026, to hear from Minnesota Management and Budget State Budget Director Anna Mingi about federal funding changes affecting the state budget. Before testimony began, Senator Rasmusson objected to a draft committee report that had been prepared in advance of the hearing, arguing it was inappropriate to summarize testimony before it occurred. The chair responded that nonpartisan staff had prepared the draft from Mingi’s submitted presentation and could revise it after the hearing if needed. Director Mingi explained that federal dollars make up more than one-third of state spending and support about 650 federal awards totaling over $23 billion this year, with more than $15 billion supporting state entitlement programs. She said the federal funding environment had changed significantly since January 2025 through executive orders, pauses, terminations, new grant conditions, delayed awards, and the July 2025 passage of H.R. 1, the federal reconciliation bill. Her main focus was H.R. 1’s effects on health care and food assistance, including work requirements for some adults, changes to eligibility for legal non-citizens, limits on retroactive Medicaid coverage and directed payments, new limits on provider taxes, and SNAP changes that shift some benefit and administrative costs to the state and counties. She estimated H.R. 1 would reduce federal funds to state-administered programs by about $327 million in the current biennium and $1.6 billion in the next, with additional costs to hospitals, counties, and other partners beyond the budget horizon. Members asked follow-up questions about whether the estimates were relative to the forecast and whether federal Medicaid funding would still rise over time. Mingi said the estimates were based on the November forecast baseline and that Medicaid federal dollars would likely continue growing overall, though the law still creates significant losses relative to prior projections. Senator Rasmusson emphasized that point in remarks to the committee. The discussion then shifted to federal grant pauses and cancellations: MMB’s tracker showed about six awards on hold totaling roughly $491 million, 13 confirmed cancellations across areas including clean energy, education, food assistance, and public health, and additional threatened or litigated cuts not included in those totals. Mingi identified two canceled violence-prevention-related grants, including a FEMA public safety grant and a justice reinvestment grant, and noted that CDC had recently moved to cancel or seek cancellation of several Minnesota public health grants, including a $65 million public health infrastructure award.

Transcript Highlights:

• And so that either means reduced foot traffic and reduced revenue or outright closure.
• <01:31:17.040> or foot traffic and reduced revenue or foot traffic and reduced revenue or
• We also generate $2.4 billion in state and local tax revenue and $1.8 billion in federal taxes.
• And the state recaptured about $47 in tax revenue.
• Again, that's for every $1 revenue.

Keywords: 1187, senate, all

Transcript Highlights:

• Source in the HD the largest revenue Source in the HD fund<01:25:00.880> now<01:25:01.639>
• It's actually our biggest single revenue source for transportation.
• So that's the kind of overall picture for HTT revenues.
• And then we did an update after the 2023 session to cover the impact of all those revenue changes.
• <01:27:35.440> changes The impact of all those revenue changes was estimated to total over

Keywords: 1187, senate, all

Summary: The committee heard testimony on Senate File 285, a bill to shift MnDOT highway project cost participation away from local governments and onto MnDOT. The bill’s author and several city representatives said current cost-share policies force cities to spend local aid, property taxes, or debt on state highway projects they do not control, leaving less money for local streets and maintenance. Testifiers from Richfield, Elk River, Faribault, Minneapolis, and the Minnesota Association of Small Cities all supported the bill, describing the policy as one-size-fits-all, financially burdensome, and especially harmful to smaller cities and cities with major state highways running through them. Witnesses gave examples of large and sometimes changing local cost-share obligations, including Richfield’s spending of most of its MSA funds on projects it does not own and a small-city project where the estimated local share rose from about $2.3 million to over $3 million. Several testifiers said cities often have little practical ability to refuse MnDOT projects because the projects are valuable and MnDOT can move on if a city declines. One witness also raised concerns about money being paid upfront and held in an account during construction, causing cities to lose interest earnings while funds sit unused. Members asked whether cities truly have a say in these projects and whether there are limits on how much the local share can increase. Testifiers said MnDOT does engage cities, but the cost participation policy largely dictates the outcome, and they described the municipal consent statute as too narrow in practice. Senators expressed concern about fairness and the burden on local budgets, while one member noted the bill may not fully address the broader consent issue. No vote or final action was taken in the portion of the meeting provided.

Transcript Highlights:

• And that fund that is created revenue<00:04:53.080> now revenue now revenue now now<00:04:54.280
• The revenues from those land management activities are then transferred to the permanent school fund.
• The revenues from those land management activities are then transferred to the permanent school fund.
• coming into the management revenues coming into the fund.
• , returns and land management revenues, returns and land management revenues, but<00:20:48.160>

Bills: HF3900, HF1849

Keywords: permanent school fund, school endowment fund, Minnesota constitutional amendment, school aid, public school funding, State Board of Investment, investment income, distributable amount, school districts, property taxes, income taxes, voter approval, ballot question, constitutional amendment 2026, education finance, fund perpetuity, purchasing power, trust lands, swamp lands, internal improvement land fund

Transcript Highlights:

• Uh, Department of Revenue, uh, settling tax liabilities.
• Uh Department of Revenue uh penny.
• Revenue. Revenue.
• Um I think they Department of Revenue.
• We have a problem with how revenue We have a problem with how revenue models<01:36:36.520> have

Keywords: 1187, senate, all

Transcript Highlights:

• economy and good for our tax revenues economy and good for our tax revenues and<00:41:58.080>
• So, the idea of considering other revenue sources, I think we're all going to have to do.
• <01:50:24.360> shall [clears throat] sales tax revenue shall [clears throat] sales tax revenue
• of cannabis tax revenue. of cannabis tax revenue.
• Um and we know we revenues of the state.

Keywords: 927, senate, all

Transcript Highlights:

• <00:03:53.200> minus balances are the total revenues minus balances are the total revenues
• revenue revenue account.<00:05:24.720> Um,<00:05:25.120> state<00:05:25.360> grant<
• revenue coming in in totality. revenue coming in in totality.
• Revenue Service at the federal level. Revenue Service at the federal level.
• If the Internal Revenue negative,500.

Keywords: 919, house, all

Summary: The Higher Education Conference Committee reviewed differences among the Governor’s, House, and Senate proposals for state grant parameter changes and their effects on state grant spending, North Star Promise spending, and average student awards. Nonpartisan staff explained that the proposals use different combinations of parameter changes, with the Governor’s and Senate plans modeled to avoid or minimize rationing, while the House plan would require rationing to balance the program. Staff reported projected biennium balances of a positive $29.836 million for the Governor’s proposal, a negative $60.758 million for the House proposal without rationing, a positive $994,000 for the House proposal with rationing, and a positive $3.623 million for the Senate proposal; North Star Promise balances also varied, with the Senate showing a positive balance and the Governor and House with rationing showing negative balances. Staff also said the Senate proposal would extend availability of the state grant appropriation and suspend surplus procedures through fiscal year 2029, allowing the balance to carry forward. The committee then focused on the House-only tuition and fee cap provision, which would limit the tuition recognized for state grant purposes for four-year programs to the University of Minnesota Twin Cities level, with 1% annual increases in fiscal years 2026 and 2027. House members said the cap was intended to address rising tuition, especially at the University of Minnesota, and to produce savings in the state grant program. The governor’s office confirmed the provision was not included in the Governor’s bill. Representatives from the University of Minnesota and the Minnesota Private College Council opposed the cap, arguing it would reduce awards for low-income students and shift costs to students rather than address underlying tuition pressures; they also said it could discourage enrollment at higher-cost institutions. Supporters from Minnesota State argued the cap would improve fairness because students at lower-tuition institutions are effectively capped lower, while students at more expensive institutions receive larger awards, and they said the legislature should intervene in a variable that has grown substantially over time. Committee members questioned how the cap would work and whether it was tied to the Twin Cities campus rate. Testifiers clarified that the state grant formula is tied to the University of Minnesota level, but because Minnesota State institutions are below that level, the cap effectively limits their students to their own lower tuition while allowing higher awards at the University of Minnesota and private colleges. No formal vote or final action was taken in the portion of the meeting provided; the chair indicated the committee would continue with item-by-item review of the remaining parameter changes and hear additional testimony from agencies and institutions.

Transcript Highlights:

• fund in 26 and 27 and a savings in the state government special revenue fund in 28 and 29 of 36,000.
• in the state government special revenue in the state government special revenue fund<00:04:09.519
• fund related to house file revenue fund related to house file 1029.<00:10:52.880> Line<00:10:
• fund and to offset revenue shortfalls without increasing fees.
• special revenue fund and to offset special revenue fund and to offset revenue<00:12:48.959> shortfalls

Bills: HF2435

Keywords: healthcare, dementia services, public health funding, opioid prevention, women's health, community health boards, mental health, 1183, house

Transcript Highlights:

• , far above the national college revenue, far above the national average<00:21:42.240> of<00:21
• <00:22:00.240> and generating billions in tax revenue and generating billions in tax revenue
• note uh about this inside members packets from the Department of Revenue.
• uh for the state grant and less revenue uh for the state grant and we<01:56:27.760> would<01:
• again in a dedicated additional revenue again in a dedicated account<01:56:32.719> that<01:56

Keywords: 1187, senate, all

Transcript Highlights:

• The historical language allowed the department to accept and expend additional federal revenue without
• The historical language allowed the department to accept and expend additional federal revenue without
• <00:59:16.720> sections non-aps and restricted Revenue sections non-aps and restricted Revenue
• <01:08:38.159> represent Revenue represent Revenue represent priest<01:08:40.839> thank
• <02:03:30.400> Source source of funds in the revenue Source source of funds in the revenue

Keywords: 928, house, all

Summary: The committee first recessed briefly, then took up HB 570, the prescription drug affordability board (PDAB). The chair and several members discussed the House amendment to repeal the board, which removed the fiscal note. The main concern raised was that the PDAB had not yet produced a clear business case showing value for the taxpayer investment, despite several years of work and four annual reports. Supporters of the repeal said the board’s recent report was largely redundant and that the board should either demonstrate a strong return on investment or be shut down; others cautioned against discarding the program too quickly and urged more time to refine the mission and legislative language. No vote was taken, and the committee appeared to agree to retain the bill for further work, with the possibility of revisiting it in a formal executive session on Tuesday. Members also shifted into discussion of HB 2, beginning with Section 85 on opioid abatement trust fund dollars for shelter programs. Department of Health and Human Services officials explained that the provision would provide $10 million from the opioid abatement trust fund, replacing general funds in the governor’s budget, while also noting an additional $2.5 million prioritized needs request for shelter care that was already fully funded. Committee members asked about shelter bed capacity, job placement efforts, and the remaining balance in the opioid fund; DHHS said there are 934 contracted beds and that case management includes help with housing and employment. Officials also said the current proposed budget includes another $1 million later in HB 2 from the opioid fund. The committee then began discussion of Sections 86 through 87, which would preserve the department’s ability to transfer funds between personnel lines. DHHS said the provision is operationally critical and that losing it would make it extremely difficult to manage the department, though it would not have a direct fiscal impact. The next item introduced was Section 88, extending a suspension related to eligibility for services until July 1, 2027; DHHS indicated that if the suspension were not continued, it would likely increase expenditures for Community Mental Health Centers and potentially others. No votes were taken during this portion of the meeting.

Transcript Highlights:

• Which would generate tax revenue without increasing the property tax burden on our residents.
• My company does over 10 million revenue.
• There's tens of thousands of jobs, billions in revenue, and in tax revenue we can use for the state,
• It provides jobs, generates tax revenue, and supports hard-working families across... our state.
• This industry generates tax revenue, licensing fees, and economic growth.

Bills: SB3, SB810, SB965, SB1073, SB1119, SB1505, SB 3

Keywords: Texas Education Code, public schools, school district, open-enrollment charter school, teacher speech, employee speech, biological sex, pronouns, gender identity, retaliation, discipline, workplace protections, school personnel, education policy, LGBTQ, transgender, charter schools, SB 965, religious speech, prayer

Transcript Highlights:

• following bills to committee: SB 420, Padilla, from the Privacy and Consumer Protection Committee to the Revenue
• the Transportation Committee and the Judiciary Committee; and SB 1407, Archuleta, from the Tax and Revenue
• SB 420, Padilla, from the Privacy and Consumer Protection Committee to the Revenue and Taxation Committee
• And SB 1407, Archuleta, from the Tax and Revenue and Taxation Committee to the Military and Veterans
• Affairs Committee, then back to Revenue and Taxation Committee.

Keywords: 988, house, all

Transcript Highlights:

• in relation to the red light cameras, the bill authorizes the clerk of court to retain 10% of the revenues
• Plus, we're generating revenue, or the school districts are generating revenue, and they're using very
• you know and then it would just be easier if if that amber light is flashing plus we're generating revenue
• or the school districts are generating revenue and they're using very expensive devices they can absolutely
• require that in these situations where— Should we require overhead school flashing signs since the revenue

Summary: The Appropriations Committee on Transportation, Tourism, and Economic Development met with a quorum and considered five bills. Senate Bill 628, naming a portion of South Navy Boulevard in Pensacola as Warrior Sacrifice Way to honor three Navy sailors killed in the 2019 Naval Air Station Pensacola attack, drew supportive remarks from senators and was reported favorably. Senate Bill 382 addressed electric bicycles and scooters by requiring riders to yield to pedestrians, limit speed near pedestrians, and use audible signals, while creating an e-bike safety task force and reporting requirements; witnesses from law enforcement, local government, and school boards supported the bill but urged clearer inclusion of e-scooters and better data collection, and the bill was reported favorably. Senate Bill 880 created a Miami Northwestern Alumni Association specialty license plate to fund scholarships and school programs, and Senate Bill 696 authorized online trademark registration applications and updated trademark classification and verification procedures; both were reported favorably with little opposition. The committee also took up Chair DeSigley’s CS for SB 654 on traffic infraction enforcement cameras for red-light running, school-zone speeding, and school-bus violations. The bill aimed to increase consistency, transparency, and fairness by limiting data use, requiring records retention, authorizing virtual hearings, restricting commissions, and adding school board approval and reporting requirements for school-bus camera programs. An amendment was adopted to clarify several provisions, including the definition of careful and prudent driving, limits on camera data use, contract timing for commission prohibitions, and reporting on violations outside authorized enforcement periods. Members raised concerns about privacy, surveillance, school-zone notice, and whether all-day school-zone enforcement should continue; Hillsborough County law enforcement testified in support of all-day enforcement based on crash data, while the sponsor said he would continue working on clarifications. After debate, the amended bill was reported favorably.

Transcript Highlights:

• Federal tax provisions, specifically Sections 45Y and 48E of the Internal Revenue Code, Sections 45U,
• 45Y, and 48E of the Internal Revenue Code play a vital role in keeping existing nuclear plants online
• These plants support over 2,000 high-quality jobs, generate millions in local tax revenue, and offer
• Just to edify us here, Sections 45U, 45Y, and 48E of the Internal Revenue Code, not known in the tax
• Just to edify us here, sections 45U, 45Y, and 45E, the eternal revenue code, not known in the tax code

Summary: The Senate Committee on Business and Commerce met with a quorum and took up a long list of pending House bills, most of them on motions by Senator King or Senator Campbell. The committee adopted committee substitutes and favorably reported numerous bills, including HB 252, HB 700, HB 1500, HB 1545, HB 1562, HB 1732, HB 267, HB 2213, HB 2221, HB 2520, HB 2818, HB 3016, HB 3214, HB 3250, HB 3512, HB 3623, HB 3689, HB 3833, HB 4063, HB 4395, HB 4690, HB 4751, HB 5331, HB 3824, HB 4464, HB 4468, and HB 5247. Most of these were sent to the local and uncontested calendar, while some, including sunset and other significant measures, were reported to the full Senate. HB 146 was the only bill reported out on a divided vote, passing 6 ayes to 4 nays. Several bills received brief explanation of committee substitute changes. HB 3016, dealing with rental car collision damage waivers and stolen vehicles, was amended to change a cooperation standard from “fully cooperate” to simply “cooperate.” HB 3689, a major ESF/TWA financing bill, was described as making technical changes to align terminology with the Comptroller’s authority and to avoid creating state debt or new liability. HB 5247, a capital cost recovery bill for transmission in the Permian Basin, was revised to clarify how the new mechanism fits with existing Utilities Code provisions and to add a 2035 expiration date. HB 3824, the battery fire safety bill, also received technical changes to align terminology with industry usage. The committee heard public testimony on several pending measures. HB 3069, which would direct the PUC to develop supplemental multi-decade planning criteria for transmission certificates in ERCOT, drew support from industry, environmental, and manufacturing witnesses who said it would help address congestion costs while balancing consumer protections; the bill was left pending. HB 5196, requiring state agencies to adopt and post telework policies and use written telework agreements, received both support and concern: supporters said it would preserve productivity and retention, while a senator raised concerns about notice and family logistics; it was left pending after testimony. HB 3112, allowing closed deliberations on cybersecurity policy details, was laid out and left pending after brief discussion. HCR 102, supporting federal nuclear tax credits, drew testimony from nuclear industry and energy advocates, who argued the credits are essential for existing plants, new nuclear development, grid reliability, and U.S. competitiveness; the resolution was left pending, with discussion about whether the language should focus more exclusively on nuclear. HB 705, creating a cosmetology licensure compact, was supported by industry, employers, and compact experts as a mobility tool that preserves state authority; HB 3516, expanding a public information exemption for Railroad Commission administrative law judges and technical examiners, and HB 3388, authorizing group property and casualty coverage for personal lines, were also heard and left pending. At the end of the meeting, the committee recessed subject to the call of the chair.

Transcript Highlights:

• Eighty-five percent of the revenues go directly to TxDOT to support maintenance and improvement of the
• Anchia mentioned the GDP, and I'd like to tell you all that Koreatown also brings in more sales tax revenue
• Improvement fund separate from the State Highway Fund instead of general revenue. Thank you.
• So the substitute keeps it in the general revenue.
• The substitute keeps it in the general revenue, it keeps the SCRF in the general revenue fund and exempts

Bills: HB137, HB283, HCR114, HB137, HB283, HB1398, HB1960, HB2153, HB2431, HB2638, HB2699, HB2999, HB3208, HB3389, HB3413, HB3510, HB3642, HB3859, HB3974, HB3986, HB4142, HB4173, HB4174, HB4542, HB4605, HB4663, HB4731, HB5064, HB5216, HB5218, HB5332, HB5453, HB5577

Keywords: state budget, fiscal biennium, budget repeal, financial management, state funding, Medicaid, healthcare access, Affordable Care Act, federal funding, low-income individuals, insurance coverage, memorial, pedestrian bridge, Houston, Sergio Ivan Rodriguez, city council, oversize vehicles, transportation permits, Hidalgo County, port authority

Transcript Highlights:

• that's brought in from premiums revenue that's brought in from premiums should<01:16:38.280> be
• c><01:16:38.400> shown<01:16:38.679> as<01:16:38.800> a<01:16:39.000> revenue
• That money comes to this department via the Department of Revenue Administration.
• <02:13:40.880> coming you're going to see that Revenue coming you're going to see that Revenue
• 101 class line as restricted revenue 101 class line as restricted revenue from<03:03:57.479>

Keywords: 928, house, all

Summary: The House Finance Division Three work session on February 21, 2025 focused on the Division of Medicaid Services budget. The chair opened with procedural guidance, noting the division’s role is to make recommendations to the full Finance Committee, that the budget must be balanced, and that members should track possible amendments ahead of a March 26 target for House Bills 1 and 2. Members also discussed the importance of using official budget documents and online resources, and the chair said no motions would be taken at this session. A major early topic was concern over a five-point Medicaid policy document and the timing of House Bill 2. Representative Tarki objected that the document appeared to be an unofficial draft and argued that significant Medicaid policy changes should have been transmitted by February 15 under state law. He said the lack of an official, posted document raised transparency concerns because the changes could affect tens of thousands of residents. Committee leadership responded that the five-point document was a working document, that it would be posted online within minutes, and that House Bill 2 is often delayed while the Office of Legislative Services finalizes and formats the governor’s proposed trailer bill. DHHS Chief Financial Officer Nathan White and Medicaid Director Henry Litman then began the budget presentation. White said the committee would use the PowerPoint as the document of record, starting with the governor’s operating budget pages 885-893, and noted that Medicaid is the largest accounting area in the state budget. He said the governor’s budget reflects about $60 million in reductions within the Medicaid area, with Granite Advantage handled off-budget and another $10 million in reductions there, for roughly a $70 million difference overall. Members asked whether the comparison was being made against an efficiency budget or a prioritized-needs budget, and White said the department could look at it different ways. The presentation then outlined Medicaid’s role in New Hampshire: it provides health coverage, serves as the state’s direct interface with the federal Centers for Medicare & Medicaid Services, and helps finance related services such as long-term supports, school-based services, adult dental coverage, and re-entry programs for people leaving correctional settings. White also reviewed enrollment and program context, saying New Hampshire has about one in seven residents enrolled in Medicaid, making it the fourth smallest Medicaid program in the country by enrollment, and described recent efforts such as youth re-entry and the Medicaid unwind after the end of the federal continuous coverage period. He said the state had to process more than 238,000 redeterminations after the public health emergency and that the department tried to avoid unnecessary coverage loss during that transition.

Transcript Highlights:

• He was very concerned that for the first time we were using general revenue to build a highway project
• derived from those taxes with revenue earned from the fund itself. ...imposed taxes by replacing the
• revenue derived from those taxes with the revenue earned from the fund itself.
• A state that didn't just create a new revenue source, but a whole new model for generation.
• So no money can be touched until the investment earnings can replace the revenue generated by all those

Keywords: 959, house, all