Rating: -1
Bill Summary:
House Bill 371 provides an additional appropriation of $86,100 to the Endowment Fund Investment Board (EFIB) for Fiscal Year 2026. Of that amount, $80,000 is allocated for personnel costs, $1,200 for operating expenditures, and $4,900 for capital outlay. The funding comes from the Endowment Earnings Administrative Fund—not the state general fund—and is intended to support the ongoing administrative functions of the EFIB. The bill includes an emergency clause and takes effect on July 1, 2025.
Reason for Rating:
Though small in scope, H0371 reflects a broader trend of government expansion and misuse of legislative process. The majority of the appropriation funds new or increased government personnel without any stated justification or performance accountability. It also invokes an emergency clause despite the absence of any actual emergency, undermining the legislative process. Additionally, the bill sets a poor precedent by using endowment earnings—meant to benefit public schools and other constitutional beneficiaries—for administrative costs, raising concerns about mission drift and self-serving fund management. For these reasons, House Bill 371 is rated at –1.