State Question No. 757 – Save it for a Rainy Day

October 12, 2010 Posted by zachary

This question adjusts the amount of state funds that can be put in the Constitutional Reserve Fund also known as the Rainy Day Fund.

This measure amends the State Constitution.  It amends Section 23 of Article 10.  It increases the amount of surplus revenue which goes into a special fund.  That fund is the Constitutional Reserve Fund.  The amount would go from 10% to 15% of the funds certified as going to the General Revenue fund for the preceding fiscal year.

While I support the need to have a savings account for the state in order to have funds available for emergencies, I feel that our current cap of 10% is sufficient. By increasing the amount the state can put away for the future, it decreases the amount the state is required to give back to the tax payer in times of excess.

I feel that the any beyond the current limit of 10% should be returned to the people of Oklahoma.

Vote No

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