Topeka (WIBW) - One plan to require the state to have a "rainy day fund" had a hearing Tuesday.

The Kansas House of Representatives Appropriations Committee heard testimony on Senate Concurrent Resolution 1614. It would amend the state’s constitution to establish a budget stabilization fund in the state treasury.

A group of senators led by Sen. Derek Schmidt proposed the resolution. It's one of three measures touting the idea.

In the House, Rep. Mike Burgess, R-Topeka, introduced House Bill 2320 which passed the House last session. SCR 1627 was introduced this session by Senators Laura Kelly, R-Topeka, and John Vratil, R-Leawood. It is currently in the Senate Ways and Means Committee. A group of senators led by Sen. Derek Schmidt introduced SCR 1614.

“We need to learn from this recession. A number of states established similar funds after the last recession to begin preparing for the next economic downturn or unexpected natural disaster,” Burgess told the committee Tuesday. “A rainy day fund serves as a state’s first line of defense against the budget pressures caused by declining revenues and rising need for public services during a downturn.”

Burgess says he'd like to see the best ideas from all three proposals combined into legislation.

Burgess’ suggested changes to SCR 1614, including:
*Establish an economic trigger for transfers to the fund – a 3% increase in revenues over the previous fiscal year will automatically trigger the .25% transfer into the fund
*Limit how much can be transferred out of the fund to 50% during any single fiscal year;
*Propose trailer legislation to clearly define funding for .25% transfer shall come only from the State General Fund and not from Fee-Funded funds.

The committee is expected to work the proposed constitutional amendment in the coming weeks. If it receives a 2/3 majority vote of support in both the full House and Senate, Kansas voters will consider the amendment in next November’s General Election.