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GA SR1054
Resolution
Status
Introduced
2/27/2012
Primary Sponsor
Earl Carter
Click for details
AI Summary
- Proposes an amendment to the Georgia Constitution requiring that any supplementary appropriations Act appropriating revenues in excess of the General Appropriations Act must first direct those excess funds to the revenue shortfall reserve until it reaches 15% of the previous fiscal year's net revenue
- Excess revenues beyond the 15% reserve threshold may be appropriated as otherwise provided by the Constitution and law
- The General Assembly may bypass the reserve-funding requirement only by adopting a joint resolution approved by a three-fifths roll-call vote in both chambers
- Effective date for the new requirement is on or after January 1, 2013
- The proposed amendment would be submitted to Georgia voters on a ballot asking whether to approve "limitations on the expenditure of excess revenues and budget surpluses by providing for prioritized funding requirements to fund the revenue shortfall reserve"
Legislative Description
"Government Fiscal Responsibility Amendment"; provide procedures, conditions, and limitations
Last Action
Senate Read and Referred
2/27/2012
Committee Referrals
Appropriations2/27/2012
Full Bill Text
No bill text available