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SR 1054 - "Government Fiscal Responsibility Amendment"; provide procedures, conditions, and limitations
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Tracking Level: Evaluating
Sponsor: Crane,Mike 28th
Last Action: 2/27/2012 - Senate Read and Referred
Senate Committee: APPROP
Assigned To:
Auditing/BudgetNext Bill
Debra NesbitNext Bill

Staff Analysis of the Legislation

This proposed constitutional amendment requires the General Assembly in appropriating funds to the supplemental budget to first fund the revenue shortfall reserve (Rainy Day Fund) until it equals 15% of the previous year's fiscal net revenue. The General Assembly can override this requirement with a 3/5's vote in each body.

Bill Summary from the State Site - Click for the State Summary Page / Click for Current Full Text






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