Vote Smart's Synopsis:

Vote to pass a concurrent resolution that submits a constitutional amendment to the voters that limits state spending.

Highlights:

• Limits the appropriation of state revenue to the following amounts (Sec. 1):
• Through fiscal year 2012-2013, state spending shall not exceed 7 percent of the total personal income of the state for that fiscal year; and
• For fiscal years beginning after June 30, 2013, state spending shall not exceed 6.4 percent of the total personal income of the state for that fiscal year.

• Specifies that the limitations may be exceeded only if 2/3 of the membership of each house of the legislature votes to increase spending (Sec. 1).

Full Bill Text