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Monday, 06 February 2012 11:34 |
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PIERRE, S.D. (AP) _ A legislative committee has endorsed Gov.
Dennis Daugaard's plan to amend the South Dakota Constitution to
make it clear that the state budget must be balanced.
Jim Seward, the governor's legal counsel, says language in the
constitution now implies that the state budget must be balanced. He
says new language expressly requiring a balanced budget is needed
to maintain the state's good bond rating, which will help get low
interest rates when special authorities issue bonds for building
projects.
The proposed constitutional amendment says the governor must
propose and the Legislature must pass a balanced budget each year.
Reserve funds could be used to balance the budget.
If the full Legislature endorses the proposal, the proposed
constitutional change will be put on the November ballot for a
statewide public vote.
(Copyright 2012 by The Associated Press. All Rights Reserved.) |
