Authors: Senator Brandt Hershman, Senator Luke Kenley, Senator Travis Holdman
Co-authors: Senator James Buck, Senator Jeff Raatz, Senator Dennis Kruse, Senator Patricia Miller
Sponsors: Representative Timothy Brown
Co-Sponsors: Representative Todd Huston
Advisors: Senator Luke Kenley, Senator Lonnie Randolph, Senator James Buck
Provides that the total amount of expense appropriations enacted by the general assembly for a biennial budget may not exceed the estimated revenue of the state in the biennial budget period. Defines "revenue" as all income received by the state general fund and all other state funds, excluding the proceeds of bonds or other loans. Defines "expense" as the ordinary operating costs of state government, including any debt service payments made during the biennial budget period. Provides that a state budget enacted by the general assembly must appropriate money for the state's prefunded pension funds in the amount necessary to actuarially fund the accrued liability of all such pension funds during the budget period. Provides that if expenses exceed actual revenue when reconciled at the close of a biennial budget period, the subsequent biennial budget must subtract any shortfall from the projected revenue available for that subsequent biennial budget. Allows these requirements to be suspended if at least two-thirds of the members of the house of representatives and at least two-thirds of the members of the senate vote to suspend the requirements. Provides that a court that orders a remedy pursuant to any case or controversy arising under these provisions may not order any remedies other than a declaratory judgment or such other remedies that are specifically authorized by the general assembly.