Vote Smart's Synopsis:

Vote to pass a joint resolution that puts a constitutional amendment before the people to decrease maximum year-to-year increase in legislative spending from 12 percent to 6 percent, adjusting for inflation; as well as increasing the amount of surplus funds that can be deposited into the Constitutional Reserve Fund (Rainy Day Fund) from a balance equal to 10 percent of the General Revenue Fund to a balance equal to 15 percent of the General Revenue Fund. This bill also allows spending above the specified level when approved by three-fourths of the entire Legislature in a joint resolution.

Full Bill Text