MO HCR29

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

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

Allows Congress to issue special bonds for specific capital projects with 20-year repayment periods, capped at 20 percent of total private sector earned income

Amendment becomes effective beginning the third fiscal year after ratification

Directs the Missouri House Chief Clerk to send copies to U.S. Senate and House leadership and Missouri Congressional delegation members