HLS 12RS-143 ORIGINAL Page 1 of 2 CODING: Words in struck through type are deletions from existing law; words underscored are additions. Regular Session, 2012 HOUSE BILL NO. 549 BY REPRESENTATIVE GEYMANN BUDGETARY CONTROLS: (Constitutional Amendment) Limits the growth of the expenditure limit A JOINT RESOLUTION1 Proposing to amend Article VII, Section 10(C)(1) of the Constitution of Louisiana, to limit2 the growth factor used to determine the expenditure limit; to provide for submission3 of the proposed amendment to the electors; and to provide for related matters.4 Section 1. Be it resolved by the Legislature of Louisiana, two-thirds of the members5 elected to each house concurring, that there shall be submitted to the electors of the state of6 Louisiana, for their approval or rejection in the manner provided by law, a proposal to7 amend Article VII, Section 10(C)(1) of the Constitution of Louisiana, to read as follows:8 §10. Expenditure of State Funds9 Section 10.10 * * *11 (C) Expenditure Limit. (1) The legislature shall provide for the12 determination of an expenditure limit for each fiscal year to be established during the13 first quarter of the calendar year for the next fiscal year. However, the expenditure14 limit for the 1991-1992 Fiscal Year shall be the actual appropriations from the state15 general fund and dedicated funds for that year except funds allocated by Article VII,16 Section 4, Paragraphs (D) and (E). For subsequent fiscal years, the limit shall not17 exceed the expenditure limit for the current fiscal year plus an amount equal to that18 limit times a positive growth factor. The growth factor is the average annual19 percentage rate of change of personal income for Louisiana as defined and reported20 HLS 12RS-143 ORIGINAL HB NO. 549 Page 2 of 2 CODING: Words in struck through type are deletions from existing law; words underscored are additions. by the United States Department of Commerce for the three calendar years prior to1 the fiscal year for which the limit is calculated. For the 2013-2014 Fiscal Year and2 each subsequent fiscal year, the growth factor shall not exceed six percent.3 * * *4 Section 2. Be it further resolved that this proposed amendment shall be submitted5 to the electors of the state of Louisiana at the statewide election to be held on November 6,6 2012.7 Section 3. Be it further resolved that on the official ballot to be used at the election,8 there shall be printed a proposition, upon which the electors of the state shall be permitted9 to vote YES or NO, to amend the Constitution of Louisiana, which proposition shall read as10 follows:11 Do you support an amendment to limit annual growth of the expenditure12 limit to six percent? (Amends Article VII, Section 10(C)(1))13 DIGEST The digest printed below was prepared by House Legislative Services. It constitutes no part of the legislative instrument. The keyword, one-liner, abstract, and digest do not constitute part of the law or proof or indicia of legislative intent. [R.S. 1:13(B) and 24:177(E)] Geymann HB No. 549 Abstract: Limits annual growth of the expenditure limit to 6%. Present constitution provides for an annual expenditure limit and provides that the next fiscal year's limit shall not exceed the expenditure limit for the current fiscal year plus an amount equal to that limit times a positive growth factor. Proposed constitutional amendment retains present constitution. Present constitution sets the growth factor as the average annual percentage rate of change of personal income for La. as defined and reported by the U.S. Dept. of Commerce for the three calendar years prior to the fiscal year for which the limit is calculated. Proposed constitutional amendment provides that for the FY 2013-2014 and each fiscal year thereafter, the growth factor shall not exceed 6%. Provides for submission of the proposed amendment to the voters at the statewide election to be held Nov. 6, 2012. (Amends Const. Art. VII, §10(C)(1))