Senate Journal: Page 143: Thursday, January 19, 1995

    Nays, 27:

         Bisignano     Black         Boswell       Connolly
         Dearden       Deluhery      Dvorsky       Fink
         Flynn         Fraise        Gettings      Giannetto
         Gronstal      Halvorson     Hammond       Hansen
         Horn          Husak         Judge         Kibbie
         Murphy        Neuhauser     Palmer        Priebe
         Sorensen      Szymoniak     Vilsack

    Absent or not voting, 1:

         Kramer

         Amendment S-3015 lost.

         Senator Murphy moved that the resolution be read the last time now
    and placed upon its passage, which motion prevailed, and the resolution
    was read the last time.

         Senate Joint Resolution 1, a joint resolution proposing an
    amendment to the constitution of the State of Iowa requiring the
    maintenance of a cash reserve.

    BE IT RESOLVED BY THE GENERAL ASSEMBLY OF THE STATE OF IOWA:

         Section 1.  The following amendment to the Constitution of the
    State of Iowa is proposed:

         Article VII, Constitution of the State of Iowa, is amended by
    adding the following new section:

         MAINTENANCE OF CASH RESERVE.  SEC. 9.  A cash reserve shall be
    maintained by the state and moneys in the cash reserve shall be separate
    from the general fund of the state and shall not be considered part of
    the general fund of the state except in determining the cash position of
    the state.  Moneys in the cash reserve may be used for cash flow
    purposes provided that any moneys so allocated during a fiscal year are
    returned to the cash reserve by the end of that fiscal year.

         The target for the amount of moneys to be maintained in the cash
    reserve shall be five percent of the revenue estimate for the general
    fund of the state for that fiscal year.  The revenue estimate shall be
    adjusted by subtracting estimated tax refunds payable from the estimated
    revenue and by adding any new revenue which may be considered to be

Iowa General Assembly

Index: Senate Journal (76th General Assembly: Session 1)

© 1995 Cornell College and League of Women Voters of Iowa

Comments? sjourn@legis.iowa.gov.

Last update: Sun Jan 14 23:40:00 CST 1996
URL: /DOCS/GA/76GA/Session.1/SJournal/00100/00143.html
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