Senate Bill 0269
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DIGEST OF SB269 (Updated January 22, 2004 9:05 am - DI nm)
State and local operating expenditure cap. Limits increases in operating expenditures of the state and political subdivisions to the rate of inflation. Provides several exceptions. Provides for the deposit of revenues exceeding the operating expenditure limit in an entity's rainy day fund and requires a specified percentage of the excess revenues to be used for property tax relief. Makes related changes.
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