MO SJR35

Submits to Missouri voters a constitutional amendment repealing section 27(a) of article IV and establishing three new sections (23(a), 27(a), and 27(c)) related to spending limits and budget stabilization.

Caps annual state general revenue appropriations growth at the greater of zero or the sum of inflation rate (measured by Consumer Price Index) plus population growth percentage, with exceptions for new voter-approved taxes and declared emergencies requiring two-thirds legislative vote.

Establishes a Cash Operating Reserve Fund (67% of existing budget reserve fund balance) allowing the commissioner of administration to make transfers for state cash needs without legislative action, capped at 5% of net general revenue collections.

Creates a separate Budget Reserve Fund (33% of existing balance) for emergency appropriations and expenditure reductions, capped at 7% of net general revenue collections, with repayment obligations within five years.

Requires permanent reduction of all state income tax rates (rounded to nearest one-quarter of one percent) by any excess revenues transferred from the reserve funds, making this reduction self-enforcing.