CT SB00019

Repeals and replaces Section 2-33a of the general statutes regarding limitations on general budget expenditures, effective October 1, 2010.

Adds the Insurance Fund established pursuant to section 38a-52a to the list of exemptions from the spending cap on general budget expenditures.

Maintains existing exemptions from spending cap calculations including debt service, section 4-30a expenditures, and statutory grants to distressed municipalities in effect as of July 1, 1991.

Preserves the requirement that the General Assembly cannot authorize budget increases exceeding the greater of personal income growth or inflation without Governor emergency declaration and three-fifths legislative vote.