NC H709

Adds Article XV to the North Carolina Constitution establishing a constitutional spending limit whereby annual state fiscal year spending growth cannot exceed the sum of inflation (measured by Consumer Price Index) plus the percentage change in state population from the prior year.

Excludes from the spending calculation appropriations funded by federal monies, bonded indebtedness, unemployment and disability insurance funds, discretionary user charges, permanent endowments and trust funds, gifts or bequests with donor restrictions, and tax relief measures.

Allows the General Assembly to exceed the spending limit only with approval of a two-thirds majority vote in both the House and Senate.

Requires the proposed constitutional amendment to be submitted to North Carolina voters at the general election in 2022.

The amendment becomes effective upon certification by the State Board of Elections and Secretary of State, applying to fiscal years beginning on or after the certification date.