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2007 SESSION

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HJ 601 Constitutional amendment; state debt and debt limits (first reference).

Introduced by: Christopher B. Saxman | all patrons    ...    notes | add to my profiles

SUMMARY AS INTRODUCED:

Constitutional amendment (first resolution); state debt.  Reduces the maximum amount of permissible general obligation debt (Section 9 (b) debt) that may be authorized by the General Assembly and submitted to the voters for approval. The formula to set the maximum is revised to equal 25 percent of an amount calculated by multiplying the average annual amount of state tax revenues from income and retail sales taxes for the most recent three fiscal years by a factor of 1.075 rather than the present factor of 1.15.

FULL TEXT

• 01/03/07  House: Prefiled and ordered printed; offered 01/10/07 078230496  pdf

HISTORY

• 01/03/07  House: Prefiled and ordered printed; offered 01/10/07 078230496
• 01/03/07  House: Referred to Committee on Privileges and Elections
• 01/11/07  House: Assigned P & E sub: #1 (Marshall, R.G.)
• 02/06/07  House: Left in Privileges and Elections