HJR 17 -- BUDGET RESERVE FUND

SPONSOR:  Nasheed (Icet)

COMMITTEE ACTION:  Voted "do pass" by the Committee on Budget by
a vote of 15 to 11.

Upon voter approval, this proposed constitutional amendment
delays repayment to the Budget Reserve Fund for three fiscal
years.

FISCAL NOTE:  No impact on state funds in FY 2010, FY 2011, and
FY 2012.

PROPONENTS:  Supporters say that the Budget Reserve Fund (Rainy
Day Fund) is not being used because it must be paid back the
following year.  The last time the fund was used was in 1993 for
the floods in Missouri.  There is $555.6 million in the fund with
$277 million available today.  The economy is in a major
emergency.  The funds could be used to cover budget shortfalls
that result in program cuts and layoffs.

Testifying for the bill was Representative Nasheed.

OPPONENTS:  There was no opposition voiced to the committee.

Missouri House of Representatives
95th General Assembly, 1st Regular Session
Last Updated November 17, 2009 at 9:26 am