Bill Title: As introduced, subject to local approval, authorizes city council to establish a rainy day fund in an amount not less than 20 percent of the city's operating expenses for any fiscal year; expenditures from the fund shall require an affirmative vote of five members of the city council. - Amends Chapter 67 of the Private Acts of 1953, as amended.

Spectrum: Partisan Bill (Republican 2-0)

Status: (Passed) 2014-03-12 - Pr. Ch. 30 [SB1404 Detail]

Text: Latest bill text (Draft #1) [PDF]

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