SJR 13 - Lager, Brad
Limits general revenue appropriations and mandates state income tax rate reductions in certain situations
Bill Details
Sponsor
LR Number
1057S.01I
Title
SJR 13
House Handler
N/A
Journal Page
Effective Date
Upon voter approval
Current Status
Second Read and Referred S Governmental Accountability and Fiscal Oversight Committee
Quick Links
Amendments
No amendments available
CURRENT BILL SUMMARY
SJR 13 - This constitutional amendment, if approved by voters, would limit state general revenue appropriations to the amount of appropriations made in the previous fiscal year increased by an inflationary growth factor. In any fiscal year where net general revenue collections exceed total state general revenue appropriations by more than one percent of total general revenue appropriations, the excess over one percent will be transferred to the newly created cash operating reserve fund to be used to reduce all state income tax rates. The amendment provides procedures for appropriating revenues in excess of the appropriation limitation and restoring certain expenditures of the state or any of its agencies when no other funds are available in cases of emergency.
This proposed constitutional amendment is identical to SJR 50 (2008).
JASON ZAMKUS