House Journal: Page 242: Wednesday, February 3, 1999

	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 by the general fund due to new transfers over and above 
those moneys received by the general fund due to transfers which are 
in effect as of January 1 following the most recent state revenue 
estimating conference.  The state revenue estimating conference shall 
determine the eligibility of transfers to the general fund which are to 
be considered as new revenue in determining the state general fund 
expenditure limitation.
2.  A state general fund expenditure limitation is created and 
calculated in subsection 3, for each fiscal year beginning on or after 
July 1 following the effective date of this section.

© 1999 Cornell College and League of Women Voters of Iowa

Comments about this site or page? hjourn@legis.iowa.gov.
Please remember that the person listed above does not vote on bills. Direct all comments concerning legislation to State Legislators.

Last update: Thu Jul 15 13:40:03 CDT 1999
URL: /DOCS/GA/78GA/Session.1/HJournal/00200/00242.html
jhf