SJR 32 Creates the Missouri Savings Account in the Constitution
Sponsor: Bartle
LR Number: 3132S.01I Fiscal Note: 3132-01
Committee: Governmental Accountability & Fiscal Oversight
Last Action: 2/14/2008 - Hearing Conducted S Governmental Accountability & Fiscal Oversight Committee Journal Page:
Title: Calendar Position:
Effective Date: Upon voter approval

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Current Bill Summary


SJR 32 - This constitutional amendment, if approved by voters, would create the Missouri Savings Account. The account shall be comprised of funds deposited annually at a rate of 2% of the general revenue appropriations for that year. If general revenue collections do not increase by 3% or more by the end of a fiscal year, the monies deposited in the fund that year shall lapse and be used for the next year’s expenditures.

In any year in which there is a budget shortfall or when the consensus revenue estimate forecasts a decrease in revenue for the upcoming year, the general assembly may utilize 1/3 of the monies in the fund for budgetary purposes. If the balance in the account reaches 1/3 of general revenue collections for any fiscal year, the excess shall lapse to general revenue.

This act is similar to SJR 6 (2005) and SJR 3 (2007).

JASON ZAMKUS