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Sovereign Wealth Funds Briefing - Categorized | Fund Profile/New Launches, People

Perry, lawmakers reach agreement to use Rainy Day Fund

Posted on 16 March 2011

From Lubbockonline.com: Gov. Rick Perry, who had vowed not to tap into the state’s reserve fund — popularly known as the Rainy Day Fund — said Tuesday it’s OK to use some of the money after all.
Perry and Texas Legislature leaders on Tuesday reached an agreement that would allow the lawmakers to withdraw $3.2 billion from the $8.2 billion fund to fill a gap expected for the current fiscal year ending Aug. 31………………………………………Full Article: Source


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