Little to sign college rainy day fund bill - Spokane, North Idaho News & Weather KHQ.com

Little to sign college rainy day fund bill

BOISE, Idaho (AP) - Lt. Gov. Brad Little is expected to sign off on the creation of a rainy day fund for colleges, similar to the reserve account set aside several years ago for the K-12 public school system.

The governor's office says Little will sign the bill Monday, while Gov. C.L. "Butch" Otter is in Utah for a Republican Governors Association meeting.

The legislation creates the Higher Education Stabilization Fund, with three accounts to better equip state universities and community colleges to handle future state funding losses.

One of the fund's three accounts would capture about $114,000 in yearly interest from student tuition and fee revenues.

Lawmakers would fill the other two accounts when the economy turns around and there is surplus, with one arm to benefit state universities and the other for community colleges.

(Copyright 2010 by The Associated Press. All Rights Reserved.)

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