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DIGEST OF INTRODUCED BILL
State spending cap. Provides that certain state expenditures for state fiscal years beginning after June 30, 2009, may not increase more than the lesser of: (1) 3% of the previous state fiscal year's expenditures; or (2) the sum of: (a) the percentage change in the population of Indiana; plus (b) the percentage change in the consumer price index for the midwest region for all items as published by the Bureau of Labor Statistics. Requires the budget agency to determine and publish the spending cap amounts in the Indiana Register. Provides for emergency expenditures. Provides for mandatory reductions in expenditures. Requires that the digest of a budget bill or a conference committee report on a budget bill must contain certain information concerning state appropriations and expenditures. Provides that current law concerning business cycle state spending controls expires June 30, 2009.