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trust fund |
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trust fund n. the principal (called the corpus) of a trust made up of its assets and, sometimes, accumulated profits. (See: trust) |
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The overwhelming voter approval of Proposal 1 prevents raids on the nine conservation and recreation trust funds that are derived from hunting and fishing license sales, snowmobile and off-road vehicle use permits, boat launching fees, as well as the state excise tax on motorboat fuel. The Monthly Statistical Snapshot summarizes the information about the programs and the trust funds presented in the more detailed tables. Morris writes that after 2018 "the trust funds will have to start digging into their accumulated surpluses," which he claims have been mounting for the last twenty years. |
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