HJR 1011 Summary

• Proposes constitutional amendment to Section 23 of Article X of the Oklahoma Constitution modifying state budget expenditure limitations and procedures

• Changes the allowable annual appropriation growth cap from 12% to 7% (adjusted for inflation), limiting legislative spending increases

• Maintains the 95% revenue certification requirement from the State Board of Equalization and establishes procedures for the Constitutional Reserve Fund

• Directs Secretary of State to refer the amendment to voters with a specified ballot title explaining the change in appropriation growth limits

• Requires filing of the resolution with the Secretary of State and Attorney General after passage by the Legislature