MS HC37

Proposes a new Section 69A to the Mississippi Constitution requiring the Legislature to enact a balanced budget where total appropriations do not exceed estimated revenues for each fiscal year.

Limits the growth rate of appropriations from state tax revenues to not exceed the estimated rate of growth of the state's economy, with any excess requiring a separate law specifying the dollar amount and rate of the override.

Prohibits debt obligations for current operations of state services unless the debt can be repaid within the same fiscal year of issuance.

Allows the Legislature to waive balanced budget requirements by a two-thirds vote of both houses if responding to war emergencies, natural disaster emergencies, or national economic emergencies.

Scheduled for voter approval at the November 2019 general election, with the Legislature directed to enact implementing legislation by general law.