Archive for Monday, March 23, 2009

Senate advances bill to create ‘Rainy Day Fund’

March 23, 2009

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— Senators have given tentative approval to a measure that would ask voters to change the Kansas Constitution’s provisions on state budgeting.

The motion advanced on a voice vote after debate Monday. If approved on final action, also expected Monday, the measure would go to the House for consideration.

Under the bill, voters would be asked in November 2010 to approve creating a rainy day fund of up to 5 percent of state general tax revenue collections. It would require legislators to set aside up to a quarter of a percent of revenues each year for future budget purposes.

Using the funds would require a three-fifths approval of the Legislature. If it were in place currently, legislators say the state would have to set aside $23 million.

Comments

WHY 6 years, 2 months ago

Isn't this like asking for an umbrella after you are wet.

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