Senator Joe Zarelli, R-Ridgefield, proposed a better Rainy Day fund for the future. Just like his original Rainy Day Fund legislation, this one has drawn support from Democrats:
Senate Joint Resolution 8209 already has gained bipartisan support, with Sen. Lisa Brown, Senate Democrat leader, at the top of the list of co-sponsors. She worked with Zarelli in 2007 to get the rainy-day fund amendment put on that year’s ballot, where it passed overwhelmingly.The proposal automatically sends revenue in excess of 133 percent of the 10-year average into the constitutional Rainy Day Fund. When there are sharp revenue spikes -- such as the 21 percent increase in 2005-2007, the Legislature would be forced to save part of it. It's explained here in one of Zarelli's excellent "Budget Tidbits."