Vote Smart's Synopsis:

Vote to pass a bill that requires annual state spending to not exceed the state's average growth rate of disposable personal income, effective July 1, 2014.

Highlights:

• Requires the Director of the Department of Finance and Administration to limit state spending of net general revenue for each fiscal year to the annual growth rate of the state’s total disposable personal income (Sec. 1).

• Authorizes the director to disperse funds that exceed this limitation if the expenditure meets the following criteria (Sec. 1):
• The expenditure is necessary because of an emergency;
• The governor approves the expenditure; and
• The Legislative Council or the Joint Budget Committee reviews the expenditure.

• Specifies that this limitation does not apply to the following expenditures (Sec. 1):
• General revenues transferred or credited to the General Improvement Fund; or
• One-time expenditures for the settlement of claims against the state.

Full Bill Text