The amendments introduced by SJR89 will alter how the state's financial planning is conducted and affect the dynamics between the executive and legislative branches. By mandating that the governor must only account for existing revenues when proposing a budget, the bill restricts the governor's ability to use projections from unpassed legislation. This change is intended to prevent unrealistic budgeting based on anticipated but unverified revenue streams, thereby aiming to stabilize fiscal planning and encouraging a more disciplined approach to state financing.
Summary
SJR89 proposes significant amendments to the Missouri state Constitution concerning the state budget and appropriations process. Specifically, the bill aims to repeal certain sections of Article IV, which currently govern the budgeting process. It establishes new provisions that provide the governor with enhanced control over budgetary expenditures, requiring the governor to submit a clearly defined budget to the General Assembly and ensuring that proposed spending does not exceed projected revenue. This aims to promote fiscal responsibility and accountability within the state government.
Contention
There are notable points of contention surrounding SJR89, particularly related to the balance of power. Proponents argue that the new regulations will ensure more effective financial management, preventing deficits and ensuring that the state lives within its means. However, critics raise concerns about the implications for legislative oversight and the potential for the governor to exercise excessive control over state resources. They argue that the lack of flexibility in considering future revenues could hinder the state's ability to respond to economic opportunities or shifts in funding needs.
Conclusions
As SJR89 moves forward, the discussion will likely center on the effects of these proposed changes on Missouri's budgetary practices and the overall health of state finances. With an upcoming public vote anticipated in November 2024, the outcome will have lasting implications for both governance in Missouri and its financial landscape.
An Act To Amend Title 29 Of The Delaware Code Relating To Budget And Fiscal Regulations, Establishing A Budget Stabilization Fund, Defining Deposit And Withdrawal Standards For The Fund, And Imposing Deposit And Withdrawal Norms Throughout The Annual Governors Recommended Budget Process.