MO HCR35

Proposes a federal balanced budget amendment requiring annual congressional expenditures not to exceed annual revenue, except for monetary reserves or circumstances in Sections 2 and 3.

Prohibits Congress from borrowing except for extraordinary costs of declared war, armed conflict, or fiscal emergencies declared by Congress and signed by the President.

Allows Congress to issue special bonds for capital projects with 20-year repayment periods, provided cumulative bond issuance does not exceed 20 percent of total private sector earned income.

Amendment takes effect beginning the third fiscal year after ratification.

Urges Congress to submit the amendment to states for ratification, or alternatively, requests this resolution be accepted as an application to call a constitutional convention for proposing the amendment; directs House Chief Clerk to distribute copies to congressional leadership and Missouri's congressional delegation.