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Senate panel debates reserves as natural-disaster bill could free $155 million
Summary
Lawmakers on a Senate panel debated whether to keep reserves near 28% or plan for 30% if a pending natural-disaster bill is enacted; staff said the bill would remove a $155 million booking and free up operating reserves but warned that rating agencies consider multiple factors beyond a single percentage.
Members of the Senate reviewed House Bill 2 reconciliation language on funding and reserves and spent much of the session debating how to account for a proposed natural-disaster authorization.
Staff described a table showing how changes from the House version would leave general-fund reserves “at about 28%,” and said that “if the natural disaster reform bill passes and is enacted, that negative would go away, and it would boost reserves up to about 30%.” The staff presentation noted that revenue estimators currently treat the $155,000,000…
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