Although the Board of Economic Advisors (BEA) formula estimated the Bank’s revenues at approximately $15-‐16 million, the House attempted to cap funding at $9.8 million (101-‐9) with H.3701 sec. 53, while the Senate authorized $22 million (42-‐3). In addition, Representatives J.E. Smith and Robert Brown introduced a friendly amendment, H.3701 sec. 53, amendment 7a, which would have increased funding for the Conservation Bank. This was inevitably tabled in the House chamber, however, by Rep. Brian White with a vote of 54-50. In the end, the Budget Conference Committee (Senators Leatherman, Setzler, and Peeler; Representatives White, Pitts, and Clyburn) awarded $15M in funding for the Conservation Bank.
Pro-Conservation Bill and Amendment
Status: Passed (Bill), Failed (Amendment)