Jindal seeking to rework 'rainy day' repayment

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Posted: Mar 14, 2014 12:03 PM by Melinda Deslatte
Source: Associated Press

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Topics: bobby jindal, oil spill, recovery money, rainy day fund, legislature

BATON ROUGE - Gov. Bobby Jindal's administration wants to use Gulf oil spill recovery money to help refill the state's "rainy day" fund and settle a pending lawsuit over its use.

The idea is tucked into a budget bill filed this week for consideration by lawmakers. It would steer dollars that BP is expected to pay for the state's claims of economic damage caused by the massive 2010 spill. Those claims are the subject of ongoing federal litigation.

The rainy day fund was tapped twice in recent years to help close state budget gaps. A 2010 lawsuit claimed that lawmakers and the governor needed to refill the fund after its use, which comes with an estimated $330 million price tag.

The repayment plan is proposed in a bill sponsored by Rep. Jim Fannin.

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