Lawmakers to examine endowment land investments
LEWISTON, Idaho (AP) - An interim committee of Idaho lawmakers tasked with determining if Idaho endowment lands are being managed properly to generate revenue is scheduled to meet for the first time Thursday.
Republican Rep. John Vander Woude of Nampa is co-chairman of the committee.
He tells the Lewiston Tribune that the entire endowment of land and investments is worth more than $3 billion but only generates about $50 million in annual payouts to public schools, universities and other trust beneficiaries.
He says the committee will look at the structure of the State Land Board and how the Idaho Department of Lands operates.
The committee will also look at the returns the endowment is getting on investments.
Idaho has about 2.4 million acres of endowment lands.
Information from: Lewiston Tribune