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Senate backs Zarelli’s proposed ‘exceptional revenue’ amendment
Vote means budget stability measure is halfway to November
ballot
March 12, 2009
OLYMPIA…
The state Senate today showed it already has learned one of the
important lessons from Olympia’s ongoing budget woes,
overwhelmingly endorsing the constitutional amendment proposed
by
Sen. Joseph Zarelli to put “exceptional revenue” into the
state’s rainy-day fund.
Senate Joint Resolution 8209 will go on the November
general election ballot if a two-thirds majority in the House of
Representatives approves it before the 2009 session ends April
26.
“This is an opportunity to spare those who will follow us in the
Legislature from having to make some of the difficult choices we
need to make this session,” said Zarelli, R-Ridgefield. “Our
state economy may never be as stable as we’d like – I expect
there will always be some degree of up, down, up, down – but we
can bring more stability to the budgeting process.
“Today’s vote says we recognize the value of putting aside more
for a rainy day on those other days when the sunshine is
exceptionally bright.”
Senate Democrat Leader Lisa Brown is co-sponsoring Zarelli’s
measure, which would define revenue collected in excess of 133
percent of the state’s 10-year revenue growth average as
“exceptional” and automatically deposit it in the state’s
rainy-day fund. Brown and Zarelli worked together to advocate
passage of the constitutional amendment establishing the
rainy-day fund, which passed overwhelmingly in November 2007.
“It took more than one try to get the Legislature to put the
rainy-day fund amendment before the people of Washington, and in
hindsight, that delay was costly,” said Zarelli. “I hope SJR
8209 goes to the ballot this year so our people can have the
opportunity to continue what they started with the creation of
the rainy day fund two years ago.”
The gap between the revenue Olympia expects to take in and the
amount lawmakers want to spend is approximately $8.3 billion. It
would be nearly $5 billion smaller had the change represented by
his proposal been made prior to 2007, Zarelli estimates.
—30—
For more information contact
Eric Campbell
at (360) 786-7503 or
campbell.eric@leg.wa.gov
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