Citizens' Guide to Senate Joint Resolution 8206 To Enhance the State's Constitutional Savings Account

This November, Washingtonians will vote on Senate Joint Resolution 8206, a proposal to enhance the state’s existing constitutionally protected savings account for the state budget. The proposed constitutional amendment would build on a previous constitutional amendment adopted by voters in 2007 that created a constitutionally protected rainy-day savings account for the state budget, replacing the state’s statutory emergency reserve. The 2007 proposal passed with 68 percent of the vote. To build on the success of the 2007 reform, in January Washington Policy Center recommended that state leaders take additional steps to ensure that once the economy begins to improve, the state secures adequate reserves to help smooth out the ups and downs of revenue collections . . . READ MORE