REFERENCE TITLE: budget stabilization fund; requirement

State of Arizona House of Representatives Fiftieth Legislature Second Regular Session 2012

HCR 2033

Introduced by Representatives Mesnard, Farnsworth, Lesko, Proud, Ugenti, Urie, Senators Barto, Lewis, Melvin, Murphy: Representatives Dial, Fillmore, Goodale, Gowan, Harper, Judd, Kavanagh, Pierce, Yee

 

A CONCURRENT RESOLUTION

 

Proposing an amendment to the constitution of Arizona; Amending article IX, Constitution of Arizona, by adding section 25; relating to state budgeting.

 

 

(TEXT OF BILL BEGINS ON NEXT PAGE)

 

Be it resolved by the House of Representatives of the State of Arizona, the Senate concurring:

1.  Article IX, Constitution of Arizona, is proposed to be amended by adding section 25 as follows if approved by the voters and on proclamation of the Governor:

25.  Budget stabilization fund

Section 25.  The legislature shall establish at least one fund in which a portion of surplus tax collections shall be deposited and be available for appropriation by the legislature only if state revenues in a fiscal year are ninety per cent or less of the expenditure limit for that fiscal year.

2.  The Secretary of State shall submit this proposition to the voters at the next general election as provided by article XXI, Constitution of Arizona.