Tornado highlights state's Rainy Day Fund issues

Thursday, May 26, 2011 | 12:36 p.m. CDT

JEFFERSON CITY — Leaders of the Missouri House and Senate said the devastating tornado that hit Joplin has revealed weaknesses in the state's "Rainy Day Fund" for emergencies.

Missouri has a constitutionally required reserve fund of more than $500 million, half of which can be used for disaster needs. Any money taken from the fund must be repaid during the next three years.

Because Missouri already is facing budget difficulties, state officials have been reluctant to tap the fund for fear that it would deepen the state's budget hole in the coming year.

Senate President Pro Tem Rob Mayer said Thursday that the constitution should perhaps be amended to allow a longer payback time for disaster expenditures. House Speaker Steven Tilley said he also would support that change.

Like what you see here? Become a member.

Show Me the Errors (What's this?)

Report corrections or additions here. Leave comments below here.

You must be logged in to participate in the Show Me the Errors contest.


Jeremy Calton May 26, 2011 | 2:43 p.m.

Politicians always prefer that bills come due when they are out of office.

(Report Comment)

Leave a comment

Speak up and join the conversation! Make sure to follow the guidelines outlined below and register with our site. You must be logged in to comment. (Our full comment policy is here.)

  • Don't use obscene, profane or vulgar language.
  • Don't use language that makes personal attacks on fellow commenters or discriminates based on race, religion, gender or ethnicity.
  • Use your real first and last name when registering on the website. It will be published with every comment. (Read why we ask for that here.)
  • Don’t solicit or promote businesses.

We are not able to monitor every comment that comes through. If you see something objectionable, please click the "Report comment" link.

You must be logged in to comment.

Forget your password?

Don't have an account? Register here.