Last night, the House passed a bill (SB 246) to create a state-run investment pool for some types of non-profits, effectively allowing the State Treasurer’s Office to host investment accounts for organizations that engage in political activism, implying state government endorsement of these organizations. Non-profits involved in social advocacy, climate policy, anti-business campaigns, and even labor unions engaged in lobbying would be eligible for this government-backed investment pool.
State Representative Jeff Keicher called the bill a slippery slope that creates direct government participation in helping organizations raise more money that could be used to lobby the very government that invested the money for them. That’s not a proper use of government resources, especially when there are already private investment options available for non-profits.