Relating to the constitutional limit on the rate of growth of appropriations.
Impact
If enacted, HB 715 would significantly impact state fiscal governance by enforcing stricter controls on how much the state can spend, thereby potentially limiting budget allocations for various programs and services. The shifts would come into effect for the state fiscal biennium starting September 1, 2015, and would require careful planning by the Legislative Budget Board to ensure compliance with these new limits. Such restrictions could alter how state funds are allocated, necessitating prioritization of funding amidst potentially increased requests, particularly from popular or essential services.
Summary
House Bill 715 addresses the constitutional limit on the rate of growth of appropriations from state tax revenues not dedicated by the constitution. The key provision of this bill stipulates that the growth rate of appropriations in a state fiscal biennium should not exceed the sum of the estimated rate of population growth and the estimated rate of monetary inflation for the previous biennium. This creates a formula that would guide the Legislative Budget Board in establishing maximum allowable growth rates for state spending, aiming to align growth with demographic and economic realities.
Sentiment
The sentiment surrounding HB 715 appears to be mixed, with proponents arguing that it promotes fiscal responsibility and ensures that spending does not outpace economic growth. They believe this will result in more sustainable government practices. However, critics may express concerns that such limits could hinder the state's ability to respond flexibly to emerging needs, especially in areas requiring increased funding due to unforeseen circumstances such as natural disasters or economic downturns.
Contention
Notable points of contention likely arise from the balance between fiscal restraint and the necessity for adequate public funding. Detractors may point out that capping appropriations could lead to underfunding of crucial public services, particularly in education, healthcare, and infrastructure. The bill's implications for local government control and its effect on programs that depend on state appropriations could be central themes in legislative discussions, culminating in debates over the state's responsibility towards its citizens.
Relating to an annual state budget and legislative budget sessions in even-numbered years and to political contributions made during a legislative session.
Proposing a constitutional amendment excepting certain appropriations to pay for school district ad valorem tax relief from the constitutional limitation on the rate of growth of appropriations.
Proposing a constitutional amendment excepting certain appropriations to pay for school district ad valorem tax relief from the constitutional limitation on the rate of growth of appropriations.
Proposing a constitutional amendment excepting certain appropriations to pay for school district ad valorem tax relief from the constitutional limitation on the rate of growth of appropriations.
Proposing a constitutional amendment excepting certain appropriations to pay for tax relief from the constitutional limitation on the rate of growth of appropriations.
Proposing a constitutional amendment to authorize the legislature to limit the maximum appraised value of real property for ad valorem tax purposes and to except certain appropriations to pay for ad valorem tax relief from the constitutional limitation on the rate of growth of appropriations.
Proposing a constitutional amendment to increase the amount of the exemption from ad valorem taxation by a school district applicable to residence homesteads, to adjust the amount of the limitation on school district ad valorem taxes imposed on the residence homesteads of the elderly or disabled to reflect increases in certain exemption amounts, and to except certain appropriations to pay for school district ad valorem tax relief from the constitutional limitation on the rate of growth of appropriations.
Proposing a constitutional amendment to increase the amount of the exemption from ad valorem taxation by a school district applicable to residence homesteads, to adjust the amount of the limitation on school district ad valorem taxes imposed on the residence homesteads of the elderly or disabled to reflect increases in certain exemption amounts, and to except certain appropriations to pay for school district ad valorem tax relief from the constitutional limitation on the rate of growth of appropriations.
Proposing a constitutional amendment to authorize the legislature to limit the maximum appraised value of real property for ad valorem tax purposes, to increase the amount of an exemption from ad valorem taxation by a school district applicable to residence homesteads, to adjust the amount of the limitation on school district ad valorem taxes imposed on the residence homesteads of the elderly or disabled to reflect increases in certain exemption amounts, and to except certain appropriations to pay for ad valorem tax relief from the constitutional limitation on the rate of growth of appropriations.