SJR 38 – Requires refunds to taxpayers when state revenues grow by seven and a half percent or more

• Sponsor: Kraus
• LR Number: 4096S.01I
• Committee: Ways and Means and Fiscal Oversight
• Last Action: 1/5/2012 - Second Read and Referred S Ways and Means and Fiscal Oversight Committee
• Journal Page: S65
• Effective Date: Upon voter approval

Current Bill Summary

SJR 38 - This constitutional amendment, if approved by voters, would require refunds to taxpayers in any fiscal year that total state revenues increase over the preceding fiscal year's total state revenue by seven and one-half percent or more. In any such fiscal year, twenty-five percent of the excess total state revenues will be refunded to income taxpayers on a pro rata basis.

This Senate Joint Resolution is similar to SJR 8 (2011).

EMILY KALMER