Gov. Phil Bryant has called a special session for Tuesday, June 28.
The call contains one item: legislation authorizing Gov. Bryant to transfer money from the state’s Working Cash Stabilization Reserve Fund into the General Fund to cover a small deficit in fiscal year 2016’s budget.
"Unfortunately, revenue has not come in to the degree projected," said Speaker of the House Philip Gunn. "This is not the first time this has happened, and it will not be the last time. Due to Republican leadership, we have $364 million set aside in the state's Rainy Day Fund. The sole purpose of the Rainy Day Fund is to be used to assist in situations like this.
"We are talking about one percent of the overall approximated $6.3 billion budget. To put this in perspective: if someone makes $30,000 a year, we are talking about a shortfall of $300. I am thankful the governor, the lieutenant governor and the conservative leadership have taken measures through the years to ensure our preparedness to handle this."
