CT HB05700

Amends section 2-33a of the general statutes to define key terms related to the constitutional spending cap, requiring a three-fifths vote of both chambers.

Defines "increase in personal income" as the compound annual growth rate of personal income over the preceding five calendar years using U.S. Bureau of Economic Analysis data.

Defines "increase in inflation" as the change in the Consumer Price Index for urban consumers (excluding food and energy) on a December-over-December basis using U.S. Bureau of Labor Statistics data.

Limits general budget expenditures to not exceed the previous fiscal year by a percentage determined by whichever is greater: the percentage increase in personal income or the percentage increase in inflation.

Excludes from general budget expenditures: debt service, federal funds, federal mandate implementation costs (for the first fiscal year only), and certain retirement system contributions, with optional federal program components counted as general budget expenditures.