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Senate Bill 0538


Senate Bill 0538

ARCHIVE (2007)

Latest Information

 

DIGEST OF INTRODUCED BILL


State spending limit. Limits increases in state expenditures to an amount based on the increase in inflation and population. Allows the general assembly to authorize additional spending through adoption of a concurrent resolution. Establishes the property tax elimination fund to receive certain state revenues that exceed the spending limit, and provides that the fund is to be used to pay for any distribution or expenditure that was previously funded in whole or in part by property tax revenue.
    Current Status:
     In Committee - first House
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