MS SC523

Applies to Congress under Article V of the U.S. Constitution for a convention of states limited to proposing a balanced budget amendment

Proposed amendment would require federal outlays not exceed estimated federal revenues for any fiscal year, absent a national emergency

Proposed amendment would also require approval from a majority of state legislatures for any increase in the federal debt

Aggregates Mississippi's application with existing balanced budget applications from 27 other named states to reach the two-thirds threshold required to call a convention

Application remains in effect continuously until two-thirds of state legislatures have applied for an equivalently limited amendments convention