IN HJR0004

Proposes a constitutional amendment to Article 10 of the Indiana Constitution establishing a government spending limitation for all governmental entities in Indiana.

Limits annual expenditure increases to a growth factor based on the percentage change in Indiana personal income between the most recent two years, calculated to three decimal places.

Defines "governmental entity" to include the state, counties, townships, cities, towns, school corporations, and any other entity created by Indiana law with taxing authority.

Excludes from expenditure calculations federal funds, endowment and pension fund spending, gifts, tax relief payments, and tax refunds.

Authorizes the Governor to suspend the spending limitation by executive order during emergencies, specifying the emergency nature, affected entities, and authorized spending amounts; such orders expire at the beginning of the following fiscal year.