Art. XIII B, § 5.5

Prudent state reserve fund

Duty Taxes, Money & Commerce Art. XIII B · Government Spending Limitation

Official text rightpowerlimitif conditionlegal term

Prudent State Reserve. The Legislature shall establish a prudent state reserve fund in such amount as it shall deem reasonable and necessary. Contributions to, and withdrawals from, the fund shall be subject to the provisions of Section 5 of this Article.

History: Sec. 5.5 added Nov. 8, 1988, by Prop. 98. Initiative measure.

Simplified explanation

The Legislature must establish a prudent state reserve fund in the amount it deems reasonable and necessary. Contributions to and withdrawals from the fund are subject to Section 5 of this article.