MN SF2801

Proposes adding Section 16 to Article XI of the Minnesota Constitution to limit planned expenditures for all funds to the amount of 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 to provide for public peace, safety, or health as a result of a declared national security or peacetime emergency

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