On a 15-1 vote The House Resources and Conservation Committee approved a measure Wednesday to prevent the state endowment fund from purchasing and running businesses.
This is a practice the GUARDIAN revealed in 2010 when the Dept. of Lands went into the private storage business with the purchase of Affordable Storage in Boise. With an 8% profit margin, officials claim it is the most profitable of their commercial real estate holdings. Other parcels are actually posting losses which we have noted in recent posts.
The IDAHO REPORTER covered the meeting and has complete report. It is unknown when the bill will get a floor vote and proceed to the senate if passed.
A history of GUARDIAN COVERAGE on this important issue.
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