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Wednesday, April 17, 2019

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Lawmakers to decide by Dec. 8 on using 'rainy day' fund

Lawmakers to decide by Dec. 8 on using 'rainy day' fund

BATON ROUGE, La. (AP) — Ballots have gone out to state lawmakers, asking them to decide whether Louisiana should tap its "rainy day" fund to rebalance this year's budget.

Gov. Bobby Jindal is asking House and Senate members to use $28.2 million from the fund to help close a midyear deficit and keep public colleges from facing cuts.

To use the Budget Stabilization Fund, as it's officially known, requires support from two-thirds of lawmakers in both chambers.

Ballots are due by 5 p.m. on Dec. 8.

It's the last piece of Jindal's plan to address a $487 million deficit in this year's $25 billion budget.

Lawmakers already agreed to the rest of the governor's recommendations, though they acknowledged the rebalancing plan leaves hefty problems for Gov.-elect John Bel Edwards when he takes office in January.

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