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Supporters say the bill would help small businesses, while opponents say it would shackle local governments.
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Insurers blame questionable, if not fraudulent, roof-damage claims for driving up costs.
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Instead of shifting away money from 12 districts that required masks, legislation would set up a $200 million reserve fund from which the 55 counties that followed state directives would be rewarded.
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The session was scheduled to end on Friday, but state law requires a 72-hour “cooling off” period before lawmakers can vote on the budget.
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The proposal, among other things, would boost overall funding for public schools and includes a pay increase of 5.3% for state workers.
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After the Senate passed measures last month, the House approved two companion proposals Thursday to create a $500 million pot of money the governor can quickly access during a declared state of emergency.