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April 29, 2016

Legislators to put Power Cost Equalization excess earnings to other uses

By Associated Press

House and Senate negotiators have reached agreement for use of any excess earnings from a fund set up to help rural areas faced with high electricity costs. A conference committee Thursday agreed to legislation that would allow for 70 percent of excess earnings from the Power Cost Equalization endowment fund to be put to other uses. Sen. Lyman Hoffman says the remaining 30 percent of any excess earnings would revert to the endowment.