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2005 SESSION

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HJ 606 Constitutional amendment; limit on appropriations (first reference).

Introduced by: Ryan T. McDougle | all patrons    ...    notes | add to my profiles

SUMMARY AS INTRODUCED:

Constitutional amendment (first resolution); limit on appropriations.  Limits total appropriations in any fiscal year to the preceding year's total appropriations plus the greater of (i) five percent or (ii) a percentage increase equal to the rate of inflation plus the rate of population increase. In the event that actual revenues exceed the amount of appropriations for a fiscal year, such surplus may only be used for (a) tax relief, (b) deposits to the Revenue Stabilization Fund, and (c) nonrecurring capital projects. "Total appropriations" is defined so as not to include appropriations: (i) for tax relief, (ii) from surplus funds for nonrecurring capital projects, or (iii) made from moneys received from the federal government or an agency or unit thereof.


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