Text: S03031 Text: S03033 Text: S03000 - S03099 Text: S Index Bills and Amendments: General Index Bill History: General Index
PAG LIN
1 1 Amend Senate File 66 as follows:
1 2 #1. By striking everything after the enacting
1 3 clause and inserting the following:
1 4 "Section 1. Section 8.54, subsections 3 and 4,
1 5 Code 2001, are amended to read as follows:
1 6 3. Except as otherwise provided in this section,
1 7 the state general fund expenditure limitation for a
1 8 fiscal year shall be ninety-nine and thirty-one
1 9 hundredths percent of the adjusted revenue estimate.
1 10 4. The state general fund expenditure limitation
1 11 amount provided for in this section shall be used by
1 12 the governor in the preparation of the budget under
1 13 section 8.22 and by the general assembly in the budget
1 14 process. If a source for new revenues is proposed,
1 15 the budget revenue projection used for that new
1 16 revenue source for the period beginning on the
1 17 effective date of the new revenue source and ending in
1 18 the fiscal year in which the source is included in the
1 19 revenue base shall be an amount determined by
1 20 subtracting estimated tax refunds payable from the
1 21 projected revenue from that new revenue source,
1 22 multiplied by ninety-five and thirty-one hundredths
1 23 percent. If a new revenue source is established and
1 24 implemented, the original state general fund
1 25 expenditure limitation amount provided for in
1 26 subsection 3 shall be readjusted to include ninety-
1 27 five and thirty-one hundredths percent of the
1 28 estimated revenue from the new revenue source.
1 29 Sec. 2. Section 8.54, subsections 7 and 8, Code
1 30 2001, are amended by striking the subsections and
1 31 inserting in lieu thereof the following:
1 32 7. The governor shall transmit to the general
1 33 assembly, in accordance with section 8.21, a budget
1 34 which does not exceed the state general fund
1 35 expenditure limitation. The general assembly shall
1 36 pass a budget which does not exceed the state general
1 37 fund expenditure limitation. The governor shall not
1 38 transmit a budget with recommended appropriations in
1 39 excess of the state general fund expenditure
1 40 limitation and the general assembly shall not pass a
1 41 budget with appropriations in excess of the state
1 42 general fund expenditure limitation. In complying
1 43 with the requirements of this subsection, the governor
1 44 and the general assembly shall not rely on any
1 45 anticipated reversion of appropriations in order to
1 46 meet the state general fund expenditure limitation."
1 47
1 48
1 49
1 50 MICHAEL E. GRONSTAL
2 1 SF 66.204 79
2 2 jp/gg
Text: S03031 Text: S03033 Text: S03000 - S03099 Text: S Index Bills and Amendments: General Index Bill History: General Index
© 2001 Cornell College and League of Women Voters of Iowa
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