Vote Smart's Synopsis:

Vote to pass a joint resolution proposing a Constitutional amendment that requires any state revenue collected above the previous years general fund revenue, “as increased by 90 percent of the average percentage change in personal income in Wisconsin over the previous three years”, be deposited in an emergency reserve fund. The funds in the emergency reserve fund are marked for use in a natural disaster, an attack, or a year in which the revenue collected is lower than the limit established in this bill. The bill stipulates that if this emergency fund is larger than two percent of the general fund, the excess may be used to decrease state or property taxes. The bill also states that if the emergency fund is larger than six percent of the general fund, the excess will be refunded to taxpayers. Additionally, the bill allows this limit to be lowered by the legislature by law or to be increased by a referendum.

Full Bill Text