Lawmaker wants most of state surplus to repay rainy day fund

(Source: Chrismiceli / MGN)
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BATON ROUGE, La. (AP) - Louisiana's House speaker wants to use the lion's share of a $100 million-plus state surplus expected from the last budget year to repay the "rainy day" fund, which was used during the year to pay agency expenses.

Lawmakers took $99 million from the fund, rather than make deep cuts, to plug an anticipated budget gap in the 2016-17 financial year that ended June 30. But apparently, the income forecast for that year had been too conservative.