No Special Session Required for Fiscal Year 2017
September 28, 2017
Officials with the Reynolds Administration announced last Wednesday there will be no need to call lawmakers back to Des Moines for a special legislative session to address the 2017 fiscal year budget. Dave Roederer, Director of the Department of Management, said during a presentation that the State of Iowa will borrow $13 million from the Economic Emergency Fund and use $1.6 million from the ending fund balance of FY17 to balance the budget. The governor has the statutory authority to borrow up to $50 million from the Economic Emergency Fund to cover a shortfall without calling the Legislature back into session. It was unknown until last Wednesday whether or not the deficit would be greater or less than $50 million.