Bill Summary: SJR 53

• Proposes constitutional amendment adding Section 23c to Article X requiring the State Board of Equalization to certify the maximum projected revenue reduction or spending increase when the Legislature passes laws affecting future fiscal years.

• Certified amounts must be subtracted from appropriations available for the next fiscal year and deposited to the state retirement system with the greatest unfunded liability as a percentage of its assets.

• Amendment applies to laws enacted in regular or special sessions that affect fiscal years beginning after the sine die adjournment date or special session convening date.

• Establishes ballot title describing the procedure for voters to approve or reject the constitutional amendment proposal.

• Directs the President Pro Tempore of the Senate to file copies of the resolution with the Secretary of State and Attorney General immediately upon passage.