OR SJR10

Proposes amending the Oregon Constitution to cap biennial state appropriations growth at the lowest of three measures: projected personal income growth, population growth plus inflation, or projected state GDP growth

Excess General Fund revenues above the spending limit would be transferred to a state reserve fund

Exemptions include bond-financed capital projects, federal funds, public university fee remissions, voluntary donations, and voter-approved revenue increases or programs after January 1, 2027

Governor may declare an emergency allowing the Legislature to exceed the limit with a three-fourths vote in each chamber

Applies to biennia beginning July 1, 2027, and would be referred to voters at the next regular general election