SJR 010 Non-voter approved tax increases limited to 1.5%
Committee:WAMELR Number:S0601.04C
Last Action:05/15/95 - S Inf Calendar S Bills For Perfection w/SCS
Title:SCS/SJR 10
Effective Date:Indefinite
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Current Bill Summary

SCS/SJR 10 - Subject to voter approval, this joint resolution would amend the State Constitution to limit the ability of the General Assembly to increase taxes or fees.

Any bill that would increase revenues must either be approved by 2/3 of each house of the General Assembly or by a majority of the voters in Missouri.

Taxes or fees that produce new revenues in any year in an amount greater than one and a half percent of total state revenues or $50M (adjusted annually by the percentage change in the personal income of Missouri for the previous fiscal year), whichever is less, must have voter approval.

"New revenues" is defined as the net increase in revenues produced by the total of all tax or fee increases enacted by the General Assembly in a fiscal year, less applicable refunds and less all contemporaneously occurring tax or fee reductions enacted by the General Assembly in that same fiscal year.

Each individual tax or fee increase is measured by the revenues produced during the first fiscal year that the increase is fully effective. Any tax increases approved by voters after November 4, 1980 are excluded from the total state revenue amount in these calculations.