SJR 6 - Bartle, Matt
Creates the Missouri Savings Account in the Constitution
Bill Details
Sponsor
LR Number
0042S.03I
Title
SJR 6
House Handler
N/A
Journal Page
N/A
Effective Date
referendum
Current Status
Voted Do Pass S Financial & Governmental Organizations and Elections Committee
Quick Links
Amendments
No amendments available
CURRENT BILL SUMMARY
SJR 6 - This 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.
JASON ZAMKUS