HB 1469 - Compact for a Balanced Budget

• Missouri enacts and adopts the "Compact for a Balanced Budget," a multi-state compact designed to coordinate state applications to Congress for a constitutional convention limited to proposing a Balanced Budget Amendment.

• The proposed Balanced Budget Amendment requires federal government outlays not to exceed receipts unless financed by debt, limits total authorized debt to 105% of current outstanding debt, and requires a two-thirds congressional vote for new general revenue taxes.

• Establishes a Compact Commission with one representative from each member state (initially three unpaid members) to oversee the convention's organization, coordinate state participation, and defend the compact in legal proceedings.

• Each member state appoints three delegates to the convention (one each from House Speaker, Senate President Pro Tempore, and Minority Floor Leaders), with delegate authority strictly limited to introducing and voting on the Balanced Budget Amendment and convention rules.

• The compact terminates automatically if the Balanced Budget Amendment is ratified, or after seven years if it has not been ratified, with the emergency clause allowing immediate implementation upon passage.