State House approves spending cap, Rainy Day Fund measure
OKLAHOMA CITY (AP) -- Oklahoma voters will be asked to tighten the lid on state spending and boost allowable deposits into the state's Rainy Day reserve fund under legislation passed by the state House.<br/><br/>TheWednesday, April 26th 2006, 6:08 am
By:
News On 6
OKLAHOMA CITY (AP) -- Oklahoma voters will be asked to tighten the lid on state spending and boost allowable deposits into the state's Rainy Day reserve fund under legislation passed by the state House.
The bill now goes to the state Senate.
The measure is similar to the so-called Taxpayer Bill of Rights, an initiative petition that would amend the state constitution to require that government spending increases be tied to a percentage based on inflation and population growth.
The TABOR measure has been challenged in the state Supreme Court.
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