MN SF2774

Proposes a constitutional amendment adding Section 16 to Article XI of the Minnesota Constitution to limit state government spending for all funds to actual revenues received in the previous two-year budget period

Exempts one-time repayment of payment shifts or other state financial obligations from the expenditures limitation

Allows additional expenditures beyond the revenue limit only for public peace, safety, or health in response to declared national security or peacetime emergencies

Requires submission of the proposed amendment to voters at the 2012 general election