SJR38 - Requires refunds to taxpayers when state revenues grow by seven and a half percent or more

SJR 38

Requires refunds to taxpayers when state revenues grow by seven and a half percent or more

Sponsor:	Kraus
LR Number:	4096S.01I	Fiscal Note not available
Committee:	Ways and Means and Fiscal Oversight
Last Action:	1/5/2012 - Second Read and Referred S Ways and Means and Fiscal Oversight Committee	Journal Page:	S65
Title:		Calendar Position:
Effective Date:	Upon voter approval

List of 2012 Senate Bills

Current Bill Summary

SJR 38 - This constitutional amendment, if approved by voters, would require refunds to taxpayers in any fiscal year that total state revenues increase over the preceding fiscal year's total state revenue by seven and one-half percent or more. In any such fiscal year, twenty-five percent of the excess total state revenues will be refunded to income taxpayers on a pro rata basis.

This Senate Joint Resolution is similar to SJR 8 (2011).

EMILY KALMER