Missouri May Tap ‘Rainy Day’ Fund
Gov. Bob Holden on Monday declared an economic emergency in Missouri, the first step toward drawing from a state savings fund to finance government services facing likely cuts.
Holden’s declaration seeks to use $135 million from the state reserve fund to pay for mental health services, public transit and other government functions in his budget for fiscal 2003, which starts July 1.
Two-thirds of the 163-member House and the 34-member Senate must approve the request for it to take effect.
“The rainy day is here, and I call upon members of the General Assembly to support my recommendations to help Missouri’s vulnerable citizens,” Holden said.
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