SJ 362 Constitutional amendment (first resolution); limit on appropriations.
Ken T. Cuccinelli, II | all patrons    ...    notes
| add to my profiles

Summary as introduced:
Constitutional amendment (first resolution); limit on appropriations. Limits total appropriations in any fiscal year to the preceding year's total appropriations plus a percentage increase equal to the rate of inflation plus a factor for population increases. The amendment also provides that any revenues collected in excess of such limitation less than or equal to one percent of such limitation shall be deposited in the Revenue Stabilization Fund. Any excess revenues greater than such one percent shall be returned to individual income taxpayers. "Total appropriations" is defined as not to include moneys appropriated that are received from the federal government or an agency or unit thereof.

Full text:
01/08/03  Senate: Presented & ordered printed, prefiled 01/08/03 039043414  pdf

Status:
01/08/03  Senate: Presented & ordered printed, prefiled 01/08/03 039043414
01/08/03  Senate: Referred to Committee on Privileges and Elections
01/14/03  Senate: Assigned to P. & E. sub-committee: 2
01/21/03  Senate: Reported from Privileges and Elections (15-Y 0-N)
01/21/03  Senate: Rereferred to Finance
01/30/03  Senate: No action taken by Finance by voice vote