Senate panel advances bill to raise rainy day cap from 10% to 15%
The subcommittee approved SB 2190 to raise the state's rainy day fund cap from 10% to 15% of general fund revenue, aiming to grow the reserve from roughly $750 million toward just over $1 billion over time; sponsors said the change would help shore up fiscal resilience alongside pension fixes.
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Senator Wiggins presented SB 2190 to raise the state’s rainy day fund cap from 10% to 15% of general fund revenue, saying the move would increase the reserve from about $750 million toward just over $1 billion. "This would put us a little over a billion dollars in our rainy day fund," he said, framing the change as a buffer while the legislature works on pension liabilities.
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