Gov. Crist Wants to Tap $672 Million From Reserves

TALLAHASSEE, Fla. (AP) - Gov. Charlie Crist wants to tap $672 million from a budget reserve fund to help make up another state revenue shortfall.

Crist made the request Friday under a new law passed this year.
It allows the Legislature Budget Commission, with members from
both chambers, to use up to half of the $1.3 billion budget reserve
to offset such a shortage. Also, the law allows borrowing $1
billion from the state's tobacco settlement fund.
Crist did not seek any tobacco money, and the reserve will cover
only about half of a $1.47 billion budget gap. The governor wants
to wait until he gets a new revenue forecast in November before
taking any further action.

(Copyright 2008 by The Associated Press. All Rights Reserved.)

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