Aug. 30, 2017DES MOINES, Iowa |
Iowa budget shortfall could require special session
Iowa Gov. Kim Reynolds says she will announce in September whether she'll need to call a special legislative session to address a budget shortfall.
The Republican governor told reporters Tuesday she is still reviewing financial information for the budget year that ended in June. The books on that budget year won't officially close until next month. The nonpartisan Legislative Services Agency said this summer that Iowa's roughly $7.2 billion budget, which lawmakers already cut last session, was facing a revenue shortfall of about $100 million. The agency warned the figure could change.
Reynolds has authority to transfer up to $50 million from an emergency fund. A larger shortfall would require lawmakers to return to Des Moines to approve either a higher transfer or cuts.