The Senate Finance Committee, in addition to additional revenue measures in the state fiscal matters bill, took up SJR 5 (Ogden) which proposes a constitutional amendment to draw $2 billion from the Permanent School Fund (PSF). Sen. Florence Shapiro said she was in favor of the first part of the legislation which would establish one manager of the portfolio but was not in favor of the second part of the resolution which takes funding out to partially meet current needs of the biennium. Finance Chairman Steve Ogden stated there would be a contingency rider that would address if voters either approve or do not approve the transfer during the upcoming November election.
