1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 83rd OREGON LEGISLATIVE ASSEMBLY--2025 Regular Session Senate Joint Resolution 10 Sponsored by Senator GIROD (Presession filed.) SUMMARY The following summary is not prepared by the sponsors of the measure and is not a part of the body thereof subject to consideration by the Legislative Assembly. It is an editor’s brief statement of the essential features of the measure as introduced.The statement includes a measure digest written in compliance with applicable readability standards. Digest: The measure proposes a limit on the amount that the state budget can go up. The limit is based on various economic factors. (Flesch Readability Score: 62.7). Proposes an amendment to the Oregon Constitution to limit the increase in state governmental appropriations for general governmental purposes in a biennium to the least of the percentage in- crease in projected personal income, the percentage increase in projected population growth plus inflation or the percentage increase in projected gross domestic product of Oregon. Transfers any excess revenues to a reserve fund. Refers the proposed amendment to the people for their approval or rejection at the next regular general election. JOINT RESOLUTION Be It Resolved by the Legislative Assembly of the State of Oregon: PARAGRAPH 1. The Constitution of the State of Oregon is amended by creating new sections 16 and 16a to be added to and made a part of Article IX, such sections to read: SECTION 16.(1) As used in this section: (a) “Ending balance” means the positive difference between the amount of General Fund revenues collected during a biennium and the maximum amount of state governmental ap- propriations for general governmental purposes allowed for the biennium. (b) “Gross domestic product” means the total value of the goods and services produced in this state, not including the value of income earned in foreign countries. (c) “Population and inflation index” means the sum of: (A) The ratio of the cost of living for the previous calendar year to the cost of living for the year two years prior to the previous calendar year, based on changes in the city average consumer price index; and (B) The ratio of the estimated population of this state for the previous calendar year to the estimated population of this state for the year two years prior to the previous calendar year, as determined by a state agency designated by law. (2) Each biennium, state governmental appropriations for general governmental purposes may not increase, as compared to the previous biennium, at a rate greater than the least of: (a) The percentage increase in projected personal income in Oregon for the biennium as compared to the personal income in Oregon for the previous biennium; (b) The percentage increase in the population and inflation index in Oregon for the cal- endar year in which the biennium begins as compared to the population and inflation index for the calendar year in which the previous biennium began; or (c) The percentage increase in the projected gross domestic product of Oregon for the biennium as compared to the gross domestic product of Oregon in the previous biennium. NOTE:Matter in boldfaced type in an amended section is new; matter [italic and bracketed] is existing law to be omitted. New sections are in boldfaced type. LC 1648 SJR10 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30 31 32 33 34 35 36 37 38 39 40 (3) For the purposes of this section: (a) Projected personal income shall be based on the last quarterly economic and revenue forecast given to the Legislative Assembly before adjournment sine die of the odd-numbered year regular session on which the legislatively adopted budget is based. (b) A state agency designated by law shall adopt rules specifying a methodology for de- termining the population and inflation index and the gross domestic product of Oregon. (4) For purposes of this section, the following are considered to be appropriations: (a) An authorization, given by law, to expend moneys in a biennium; (b) A limitation, imposed by law, on the expenditure in a biennium of moneys that are continuously appropriated; and (c) An estimate of amounts of moneys that are continuously appropriated that will be spent in a biennium without limitation. (5) The following appropriations are not subject to the limitation on appropriations con- tained in this section: (a) Appropriations for the construction or acquisition of assets that are financed by state bonds, certificates of participation or other forms of borrowing. (b) Appropriations of moneys received directly or indirectly from the federal government. (c) Appropriations for fee remission programs of public universities. (d) Appropriations of moneys voluntarily donated to a state agency. (e) Appropriations of moneys from revenue increases or new revenue sources if the in- creases or sources result from approval of a measure by the people at an election held on or after January 1, 2027. (f) Appropriations to fund new programs or to increase funding for existing programs if the need for new or increased funding results from approval of a measure by the people at an election held on or after January 1, 2027. (6) State governmental appropriations for general governmental purposes may exceed the limitation established by this section for a biennium if the Governor declares an emergency and three-fourths of the members serving in each house of the Legislative Assembly affirmatively vote to exceed the limitation for the biennium. (7) If this section operates to limit the amount of state governmental appropriations for general governmental purposes for a biennium, the amount of the ending balance for that biennium shall be transferred to a reserve fund designated by law. SECTION 16a.(1) Section 16 of this Article applies to biennia beginning on or after July 1, 2027. (2) This section is repealed on June 30, 2029. PARAGRAPH 2. The amendment proposed by this resolution shall be submitted to the people for their approval or rejection at the next regular general election held throughout thisstate. [2]