SC H3397

Legislative Description

Provide That The Limit On General Fund Appropriations For A Fiscal Year Is The Total Amount Of The General Fund Revenue Estimate As Of February Fifteenth For Fiscal Year 2009-2010, Increased Annually And Cumulatively By The Lesser Of Six Percent Or A Percentage Determined By Population Increases And Increases In The Consumer Price Index, To Provide For The Limitation To Be Suspended For A Fiscal Year For A Specific Amount Upon A Special Vote Of The General Assembly And To Define This Special Vote, To Establish The Spending Limit Reserve Fund, To Which All Surplus General Fund Revenues Must Be Credited, To Provide For The Priority Uses Of The Revenues Of This Fund, To Provide For The Appropriation Of Fund Revenues After These Priorities Are Met, And To Require That Appropriation Of Revenues Of This Fund Must Be By A Joint Resolution Originating In The House Of Representatives.

Last Action

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