DE HB155

Proposes constitutional amendment to redefine Delaware's state appropriation method and fiscal controls, implementing recommendations from the Advisory Panel on Potential Fiscal Controls and Budget Smoothing Mechanisms.

Establishes a Budget Stabilization Fund to replace the existing Budget Reserve Account, with deposits capped at 10 percent of estimated General Fund revenues and a minimum balance of 3 percent.

Maintains the 98 percent appropriation limit of estimated State General Fund revenue but adds a Benchmark Appropriation check based on Delaware personal income growth, population growth, and inflation indicators.

Authorizes deposits to the Budget Stabilization Fund when revenues exceed the Benchmark Appropriation and allows withdrawals during economic downturns or emergencies with three-fifths legislative approval.

Requires companion statutory reform of the Personal Income Tax to broaden the tax base before final adoption of these constitutional budget reforms.