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Lawmakers vote to spend $28M from state 'rainy day' fund

1 year 5 months 2 weeks ago December 09, 2015 Dec 9, 2015 Wednesday, December 09 2015 December 09, 2015 9:31 AM in News
Source: Associated Press

BATON ROUGE - State lawmakers have agreed to use $28.2 million from Louisiana's "rainy day" fund to help rebalance this year's budget.

Ballots were tallied Wednesday morning. Thirty-eight of 39 senators voted to tap into the Budget Stabilization Fund, along with 87 of the 105 House members. That vote count more than met the two-thirds support needed from each chamber.

It was the last piece of Gov. Bobby Jindal's plan to close a $487 million deficit in this year's $25 billion budget. Without the money from the rainy day fund, the Jindal administration said public colleges could have been faced with cuts.

Lawmakers already agreed to the rest of the governor's recommendations.

The budget rebalancing plan leaves deep financial problems for Gov.-elect John Bel Edwards to address when he takes office in January.

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