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State’s Rainy Day Fund May Be Used To Cover Shortfall
11/17/08 - 09:16 PM
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As they grapple to fill in the gaps in next year’s budget, the Jindal administration and lawmakers could tap into Louisiana’s multimillion dollar “rainy day” fund to try to stave off some deep cuts.

Nearly 285 million dollars would be available from the fund to put toward the more than 1 billion dollar shortfall projected for the new fiscal year that begins July 1st, but the governor’s top budget crafter says that’s not on the table yet.

State officials won’t know the latest estimates of how much money the state is expected to have for spending in the upcoming 2009-10 year until a revenue forecasting panel meets in December.

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