SJR 8 Requires refunds to taxpayers when state revenues grow by five percent or more
Sponsor: Kraus
LR Number: 0500S.01I Fiscal Note: 0500-01N.ORG
Committee: Ways and Means and Fiscal Oversight
Last Action: 4/14/2011 - Voted Do Pass S Ways and Means and Fiscal Oversight Committee Journal Page:
Title: Calendar Position:
Effective Date: Upon Voter Approval

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Current Bill Summary

SJR 8 - 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 five percent or more. In any such fiscal year, nine and one-half percent of the excess total state revenues will be refunded to income taxpayers on a pro rata basis.