Endowment Fund Gets $86,100 Boost: 2025 Idaho House Bill 371
House Bill 371 provides an additional $86,100 to the Endowment Fund Investment Board for fiscal year 2026. This money covers employee pay increases, accounts for rising costs due to inflation, and replaces outdated computer equipment. The bill adds to the Board's previously approved maintenance budget, bringing their total funding to just over $1 million.
The Bill's Purpose
House Bill 371 provides additional money to the people who manage Idaho's endowment funds – which are permanent financial assets that generate income for public schools and other state institutions. Just as a family might need to adjust their budget when costs rise or equipment breaks down, the state needs to ensure the Endowment Fund Investment Board has adequate resources to fulfill its responsibilities.
The Core Provisions
Employee Compensation Increase
Allocates $80,000 for personnel costs. This money aims to make sure that the people managing Idaho's endowment funds receive fair compensation for their work.
Inflation Adjustment
Provides $1,200 for operating expenditures to address rising costs due to inflation. Similar to how families must adjust their household budgets when prices increase at the grocery store, government agencies need to account for similar cost increases.
Computer Equipment Replacement
Sets aside $4,900 for capital outlay to replace aging computer hardware.
Current Status and Sponsors
Sponsors: House Appropriations Committee introduced the bill, with Representative Dustin Manwaring (R-29) serving as the floor sponsor in the House and Senator Phil Hart (R-2) in the Senate.
Committee: The bill moved through the House Appropriations Committee and the Senate Finance Committee.
Current Status: Governor signed the bill on March 25, 2025. It will take effect on July 1, 2025, when the new fiscal year begins. The bill is now Session Law Chapter 168.
