Spending cap could block access to Rainy Day Fund
American-Statesman Staff
Legislators of all partisan stripes have been eyeing Texas’ rainy day fund as a source for new water and transportation projects, but some budget gymnastics might be necessary for them to get at that money.
Members of the Senate Finance Committee were told Wednesday that the state’s constitutional spending cap applies to money in the rainy day fund, meaning that legislators might need to vote to exceed the cap first if they want to access the nearly $12 billion in the rainy day fund.
