North Carolina House Bill 7: Earmark share of revenue increases to the state's rainy-day fund

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North Carolina House Bill 7: Earmark share of revenue increases to the state's rainy-day fund

 

 

Check out this key bill recently passed by elected officials in North Carolina, check-in to the VoteSpotter app to see how your legislators voted, and comment below to share what you think!

 

North Carolina House Bill 7, Earmark share of revenue increases to the state's rainy-day fund: Passed 110 to 3 in the state House on February 15, 2017

 

To set aside 15 percent of new revenue growth per year in the state saving reserve. That fund currently gets one-fourth of what's left over in state coffers at the end of the fiscal year. The bill would limit the fund's use to avoiding spending cuts if revenue declines, if a court ruling imposes damages against the state, or if there is a state emergency. Also, if a proposed withdrawal is more than 7.5 percent of the last state budget, the bill would require a two-thirds vote of both houses to approve it.

 

Comment below to share what you think of North Carolina House Bill 7!

 

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