Creates the "Missouri Savings Account" in the Constitution
LR Number:
Last Action:
2/8/2007 - Hearing Conducted S Governmental Accountability & Fiscal Oversight Committee
Journal Page:
Calendar Position:
Effective Date:
Upon voter approval

Current Bill Summary

SJR 3 - This joint resolution amends the Constitution by creating a 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 resolution is similar to SJR 6 (2005).