HJR 17 - This constitutional amendment, if approved by voters, would limit state general revenue appropriations to the amount of appropriations made in the previous fiscal year increased by an inflationary growth factor. In any fiscal year where net general revenue collections exceed total state general revenue appropriations by more than 1.5% but less than 2.5% of total general revenue appropriations, the excess over 1.5% will be used for reduction of state debt. In any fiscal year where net general revenue collections exceed total state general revenue appropriations by more than 2.5% of total general revenue appropriations, the excess over 2.5% will be transferred to the newly created taxpayer protection stabilization fund to be used for reduction of income tax rates. The amendment provides procedures for appropriating revenues in excess of the appropriation limitation and restoring certain expenditures of the state or any of its agencies when no other funds are available in cases of emergency. The act sets an expiration date of five years after the act takes effect for the provisions of the act and provisions relating to the cash operating fund and budget reserve fund. This proposed constitutional amendment is similar to SJR 2 (2013), SJR 46 (2012), SJR 20 (2011), SJR 35 (2010), SJR 13 (2009), and SJR 50 (2008). MIKE HAMMANN
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