TOPEKA, Kan. (AP) A bipartisan group of Kansas state senators is supporting creation of a reserve account to serve as a so-called rainy day fund for the state budget.
The proposal would amend the Kansas Constitution to require that one-quarter of 1 percent of all state revenue be placed in the account each year. Money could only be used if authorized by a super-majority vote in the House and Senate.
If the total in the account exceeds 5 percent of the state’s budget, the excess could be used for funding government programs.
Senators will introduce the proposal when the legislative session begins Monday. Approval by two-thirds of the House and Senate would be the question on a statewide ballot, with approval by a simple majority of voters adding it to the Kansas Constitution.
