HB11-1052 Summary

• Prohibits appropriations committees in either house from passing bills that require tax expenditures or decrease state revenue prior to passage of the annual general appropriation act, unless the bill identifies equivalent spending decreases, general fund offsets, or sufficient revenue increases.

• Requires revenue increases to be identified for the next state fiscal year and any other fiscal year in which new tax expenditures or changes to tax expenditures would be implemented so the bill does not impact the state budget.

• Defines "tax expenditure" to include deductions from taxable income, tax credits, tax exemptions, lowering of tax rates, elimination of taxes, and elimination or reduction of fees.

• Applies to all regular and special sessions of the general assembly in 2011 and beyond until modified by subsequent legislation.

• Includes a safety clause declaring the act necessary for immediate preservation of public peace, health, and safety.