RALEIGH, N.C. (AP) - North Carolina legislators have sent to Gov. Roy Cooper more detailed ground rules about how state government must save money for the next fiscal emergency.
The General Assembly on Thursday gave final legislative approval to a bipartisan measure that directs how much money must be put annually into the state’s “rainy day” reserve and restricts how the money inside can be spent. Some uses would require support from two-thirds of both House and Senate members.
There’s nearly $1.5 billion in the reserve right now and state law sets a goal for what it should contain. This measure directs state budget experts to set a fund target based on possible fiscal emergency scenarios.
The House voted 111-2 for the slight changes the Senate made to the bill earlier this week.
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