CT HB05779

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

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

Defines "increase in inflation" as the change in the consumer price index for urban consumers (excluding food and energy) during the preceding calendar year on a December-over-December basis using United States Bureau of Labor Statistics data.

Establishes that general budget expenditures cannot exceed the previous fiscal year by a percentage greater than whichever is larger: the percentage increase in personal income or the percentage increase in inflation.

Excludes from the spending cap: debt service, section 4-30a expenditures, federal funds, and federal mandate/court order expenditures in their first fiscal year of implementation.