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2013 SESSION

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HJ 677 Constitutional amendment; limitation on debts (first reference).

Introduced by: Benjamin L. Cline | all patrons    ...    notes | add to my profiles

SUMMARY AS INTRODUCED:

Constitutional amendment (first resolution); limitation on debt. Provides that in any 10-fiscal-year period beginning with fiscal years of the Commonwealth starting on or after July 1, 2014, no more than five percent of the average of the projected revenues for each fiscal year shall be used directly or indirectly for principal, interest, or other payments on debt. This limitation may be exceeded only by a vote of at least two-thirds of the members elected to each house of the General Assembly. The bill provides that the General Assembly shall define the terms "debt" and "projected revenues." This resolution was incorporated into HJ 594. 

FULL TEXT

• 01/09/13  House: Prefiled and ordered printed; offered 01/09/13 13103501D  pdf

HISTORY

• 01/09/13  House: Prefiled and ordered printed; offered 01/09/13 13103501D
• 01/09/13  House: Referred to Committee on Privileges and Elections
• 01/11/13  House: Assigned P & E sub: Constitutional Amendments Subcommittee
• 01/21/13  House: Subcommittee recommends incorporating (HJ594-Loupassi) by voice vote
• 01/25/13  House: Incorporated by Privileges and Elections (HJ594-Loupassi) by voice vote