HB1739 - Compact for a Balanced Budget

• Oklahoma enacts and adopts a multi-state compact to coordinate state participation in calling an Article V constitutional convention limited to proposing a Balanced Budget Amendment to the U.S. Constitution.

• The proposed Balanced Budget Amendment would require total federal outlays not exceed total receipts unless financed by debt, limit outstanding debt to 105% of current levels, require supermajority votes for new taxes, and authorize the President to impound spending when debt approaches limits.

• Establishes a Compact Commission with members appointed by participating states to oversee convention logistics, encourage state participation, and enforce compact terms; member states must enact substantively identical legislation to participate.

• Appoints each state's chief executive officer as convention delegate with strictly limited authority to introduce and vote only on the Balanced Budget Amendment; delegates take oath to follow compact terms and can be recalled for violations.

• Convention may proceed only after at least three-fourths of states join the compact and Congress calls the convention; proceedings must follow Robert's Rules of Order and compact-specified rules with majority state approval required for any action.