SJR 9 — A joint resolution proposing an amendment to the Constitution of the State of Iowa relating to the state budget by creating a state general fund expenditure limitation.

Senate Joint Resolution 9 - IntroducedReprinted SENATE JOINT RESOLUTION 9 BY SCHNEIDER, ANDERSON, BEHN, BERTRAND, BREITBACH, BROWN, CHAPMAN, CHELGREN, COSTELLO, DAWSON, DIX, EDLER, FEENSTRA, GARRETT, GREENE, GUTH, C.

JOHNSON, KAPUCIAN, KRAAYENBRINK, LOFGREN, ROZENBOOM, SCHULTZ, SEGEBART, SHIPLEY, SINCLAIR, SMITH, WHITVER, ZAUN, and ZUMBACH (As Amended and Passed by the Senate March 16, 2017) SENATE JOINT RESOLUTION A Joint Resolution proposing an amendment to the Constitution of the State of Iowa relating to the state budget by creating a state general fund expenditure limitation.

TLSBSJR 2639XS9 (3)(4) 87 tm/sctm/sc/jh S.J.R.

However, if LSBSJR 2639XS9 (3)(4) 87 -1- tm/sctm/sc/jh 1/4 S.J.R.

If a new revenue source is proposed, the budget revenue projection used for that new revenue source for the period beginning on the effective date of the new revenue source and LSBSJR 2639XS9 (3)(4) 87 -2- tm/sctm/sc/jh 2/4 S.J.R.

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The general assembly may suspend the application of this article by passage of a joint resolution, subject to approval by the governor, by two-thirds of the members elected to each house of the general assembly.

The foregoing amendment toSJR the9 Constitution(4) of the State of Iowa is referred to the general assembly to be chosen at the next general election for members of the general assembly, and the secretary of state is directed to cause the same to be published for three LSB 2639XS (3) 87 -3- tm/sctm/sc/jh 3/4 S.J.R.

9 to the Constitution of the State of Iowa is referred to the general assembly to be chosen at the next general election for members of the general assembly, and the secretary of state is directed to cause the same to be published for three consecutive months previous to the date of that election as provided by law.

EXPLANATIONSJR The9 inclusion(4) of87 this-4- explanationtm/sc/jh does4/4 not constitute agreement with the explanation’s substance by the members of the general assembly.

This joint resolution proposes an amendment establishing a new Article to the Constitution of the State of Iowa that relates to state budgets and state revenue.

The amendment creates a state general fund expenditure limitation.

The amount of the limitation is the lesser of 99 percent of the adjusted revenue estimate for the general fund of the state for the following fiscal year or 104 percent of the net revenue estimate for the general fund for the current fiscal year.

The amendment defines adjusted revenue estimate and net revenue estimate and requires that the estimates be determined by a revenue estimating conference which is to be created by the general assembly by law.

The expenditure limitation is required to be used by the governor in preparation of the governor’s budget and by the general assembly in the budget process.

The governor is prohibited from approving or disapproving of appropriations in a manner that would cause the final appropriations approved by the governor to exceed the expenditure limitation.

If a new revenue source is proposed, the budget revenue projection used for the new revenue source is 95 percent of the amount remaining after subtracting refunds payable from the projected revenue from that source.

If a revenue decrease is proposed, the projection for the revenue source used for the revenue decrease is 100 percent of the amount of the projected revenue decrease from that source.

The amendment provides that the general assembly shall enact laws to implement the amendment.

The joint resolution, if adopted, will be referred to the next general assembly for adoption a second time before being submitted to the electorate for ratification.

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