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House Journal: Page 1911: Wednesday, April 22, 1998

Rants of Woodbury in the chair at 12:00 p.m.
Speaker Corbett in the chair at 12:50 p.m.
Larson of Linn moved that the joint resolution be read a last
time now and placed upon its adoption which motion prevailed and
the joint resolution was read a last time.
Senate Joint Resolution 2004, a joint resolution proposing
amenments to the Constitution of the State of Iowa relating to
the state budget by limiting state general fund expenditures and
restricting certain state tax revenue changes.
Be It Resolved By The General Assembly Of The State Of Iowa:

Section 1.  The following amendment to the Constitution of the
State of Iowa is proposed:

The Constitution of the State of Iowa is amended by adding the
following new section to new Article XIII:

ARTICLE XIII.
EXPENDITURE LIMITATION.

GENERAL FUND EXPENDITURE LIMITATION.  Section 1. 

1.  For the purposes of this section:

a.  "Adjusted revenue estimate" means the most recent revenue
estimate determined before January 1, or a later and lesser
revenue estimate determined before adjournment of the regular
session of the General Assembly, for the general fund for the
following fiscal year as determined by a revenue estimating
conference which shall be established by the General Assembly by
law, adjusted by subtracting estimated refunds payable from that
estimated revenue and adding any available surplus in accordance
with subsection 5. 

b.  "General fund" means the principal operating fund of the
state which shall be established by the General Assembly by law.

c.  "New revenues" means moneys which are received by the state
due to increased tax rates or fees or newly created taxes or
fees over and above those moneys which are received due to state
taxes or fees which are in effect as of January 1 following the
most recent state revenue estimating conference.  "New revenues"
also includes moneys received 

© 1998 Cornell College and League of Women Voters of Iowa

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Last update: Tue Apr 28 03:40:02 CDT 1998
URL: /DOCS/GA/77GA/Session.2/HJournal/01900/01911.html
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