Loading chat...

MO HJR11

Joint Resolution

Official Source

Status

Introduced

1/7/2015

Primary Sponsor

Eric Burlison

Click for details

Origin

House of Representatives

2015 Regular Session

AI Summary

  • Limits annual state general revenue appropriations growth to the greater of zero or the sum of the inflation rate plus Missouri's population change from the prior year
  • Establishes three separate reserve funds: a Cash Operating Reserve Fund (capped at 5% of net general revenue), a Budget Reserve Fund (capped at 7%), and a new Taxpayer Protection Stabilization Fund to receive excess revenues
  • Requires excess funds in the Taxpayer Protection Stabilization Fund to be applied to temporary reductions in state individual income tax rates, rounded to the nearest 0.25%
  • Allows the appropriations growth limit to be exceeded only if the governor declares an emergency and a simple majority of both legislative chambers approves separate emergency appropriation bills
  • Includes a sunset provision requiring legislative reauthorization after 5 years, with automatic termination after 10 years if reauthorized

Legislative Description

Proposes a constitutional amendment prohibiting state appropriations in any fiscal year from exceeding certain limits

Last Action

Referred: Government Efficiency(H)

2/12/2015

Committee Referrals

Government Efficiency2/12/2015

Full Bill Text

No bill text available