The colleges and universities need more money, most lawmakers would agree. Yet more than a few legislators won election having vowed not to raise taxes. Gov. Judy Martz did the same. But despite the obstacles, if legislators were determined to come up with more money for the university system, they could find it. The simplest solution, some private-sector business people believe, would be to tap into the state's Permanent Coal Tax Trust Fund.
Lawmakers are sharply divided over how to use money generated by the fund.
Changing the formula would require a majority of both houses, which would be difficult to obtain. Ever since former Gov. Racicot appointed him to the board last spring, Semmens has expressed open astonishment at the financial condition of Montana's colleges and universities. By last fall he was urging lawmakers to take advantage of the Coal Tax Trust Fund to invest in higher ed. Semmens actually credits the idea to the education committee of the Economic Development Action Group, which was formed in the aftermath of U.S. Sen. Max Baucus's economic summit last June. Billings banker Tom Scott heads up the 16-member group.