Carolina Journal Radio

New rules to guide use of N.C. rainy-day reserves

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From Carolina Journal Radio Program No. 726: North Carolina lawmakers are pursuing new rules to restrict the use of the state’s “rainy-day” savings reserve. While the General Assembly has made a conscious effort to rebuild that reserve in recent years, they have had no rules to guide them. New legislation would mandate that a portion of each year’s revenue growth must head to the reserve. The plan also would limit rainy-day spending to a limited number of fiscal and natural emergencies. You’ll hear highlight from a recent debate about the topic.