HB 18-1048

HB 18-1048, which has been signed into law, changes how money from a special fund called the "Hesperus account" is used for Fort Lewis College. Previously, the state legislature had to approve spending from this account each time funds were needed. Now, the college can use these funds without needing approval from the legislature every time. This affects the budgeting process and financial autonomy of Fort Lewis College. Since it has been signed, the changes are now in effect.

Official Summary

Current law requires the general assembly to make an appropriation from the 'Hesperus account' (account), which comprises the proceeds of or income from the property formerly known as the 'Fort Lewis school', to the board of trustees for Fort Lewis college prior to spending. The bill eliminates the requirement that spending from the account is subject to an appropriation by the general assembly. (Note: This summary applies to the reengrossed version of this bill as introduced in the second house.) , Read More

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