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Jun 10, 2010 10:53 AM

House tries to repeal rainy day fund statute

BATON ROUGE, La. (AP) House leaders are trying to gain ground in their dispute with the Senate over the state's "rainy day" fund by undoing the statute at the center of the complaint.

Rep. Jim Fannin quietly slipped language into a Senate bill Wednesday that would repeal the part of the rainy day fund law with which House leaders disagree.

The House and Senate both want to use the rainy day fund to help balance the budget, but they disagree on when it must be repaid. House leaders think it must be repaid immediately. Senate leaders say it won't have to be repaid for years.

The Senate is relying on a provision approved by lawmakers last year. Fannin is proposing to repeal that. That proposal heads back to the Senate for approval, certain to run into opposition.

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