House Sponsors: RIGHTER-RYDER, BLACK, KOSEL, JONES,JOHN, BOST, O'CONNOR, MYERS,RICHARD, MITCHELL,BILL, LAWFER, SOMMER, KLINGLER, WINTERS AND WINKEL. Short description: RAINY DAY FUND ACT Synopsis of Bill as introduced: Creates the Rainy Day Fund Act. Provides that for any fiscal year in which the revenues into the State's general funds exceed the prior year's general funds revenues by more than $750,000,000, the excess funds shall be deposited into the Rainy Day Fund, a special fund that is hereby created in the State treasury to retain State revenues for future needs, reduce the need for future tax increases, and provide available resources to meet State obligations whenever failures in revenues occur. Provides that if, at the close of a fiscal year on June 30, the Rainy Day Fund contains more than $500,000,000, then the excess amount shall be transferred to the General Revenue Fund. Provides that transfers from the Rainy Day Fund may be made by appropriation of the General Assembly upon request of the Governor. Amends the State Finance Act to create the Fund. Last action on Bill: SESSION SINE DIE Last action date: 01-01-09 Location: House Amendments to Bill: AMENDMENTS ADOPTED: HOUSE - 0 SENATE - 0 END OF INQUIRY Full Text Bill Status