State Rep. Charles Perry is following through on his pledge to support the Texas Budget Compact. He’s proposing a constitutional amendment requiring the state maintain a minimum balance in the Rainy Day Fund.
If passed, HJR 111 by. Rep Perry would require that amount equal or greater than 5% of non-dedicated general revenue appropriated in the previous biennium must be kept in the Rainy Day Fund going forward.
Currently the Legislature can appropriate money from the RDF at any time for any purpose with a 2/3 majority of both chambers. Rep. Perry’s bill would prohibit the Legislature from spending additional money beyond the level prescribed by HJR 111, except in cases of an emergency and with a 4/5 majority of both houses.
Rep. Perry’s bill is an excellent way to ensure Texas’ Rainy Day Fund maintains a healthy balance in order to protect our state’s fiscal future.
Tell your legislators to protect the Rainy Day Fund by signing the Texas Budget Compact!