SJR37: Joint Resolution Text

LRB-2954/1

SRM:cjs:ph

2009 - 2010 LEGISLATURE

2009 Senate JOINT RESOLUTION 37

June 2, 2009 - Introduced by Senators Hopper, Leibham, Kedzie, Schultz, Darling and Kapanke, cosponsored by Representatives Strachota, Brooks, Vukmir, Knodl, Nass, Gottlieb, Vos, Nygren, Stone, Kerkman, Lothian, Pridemore, Van Roy, Spanbauer, Bies, Townsend, Petersen, Davis, Petrowski, M. Williams and Tauchen. Referred to Joint Committee on Finance.

SJR37,1,2 To amend section 5 of article VIII of the constitution; relating to: accounting and expenditure of state funds (first consideration).

Analysis by the Legislative Reference Bureau

This proposed constitutional amendment, proposed to the 2009 legislature on first consideration, requires the state to budget and account for all funds it receives or expends in accordance with generally accepted accounting principles.

The amendment restricts, in the budget bill, expenditures and other financial uses from the general fund that exceed revenues and other financing sources as estimated by the legislature in accordance with generally accepted accounting principles. It further requires that any existing budget deficit be extinguished by at least ten percent for each year covered by the budget bill.

A constitutional amendment requires adoption by two successive legislatures, and ratification by the people, before it can become effective.

SJR37,1,3 Resolved by the senate, the assembly concurring, That:

SJR37, s. 1 Section 1. Section 5 of article VIII of the constitution is amended to read:

SJR37,2,9 [Article VIII] Section 5. The legislature shall provide for an annual tax sufficient to defray the estimated expenses of the state for each year; and whenever the expenses of any year shall exceed the income, the legislature shall provide for levying a tax for the ensuing year, sufficient, with other sources of income, to pay the deficiency as well as the estimated expenses of such ensuing year. The state shall budget and account for all funds it receives or spends in accordance with generally accepted accounting principles. The legislature shall pass an annual or biennial budget bill which authorizes expenditures and other financing uses from the general fund that do not exceed estimated revenues and other financing sources to the general fund, as projected by the legislature in accordance with generally accepted accounting principles, and reduces any existing general fund deficit by at least 10 percent for each fiscal year covered by the bill.

SJR37,2,12 Be it further resolved, That this proposed amendment be referred to the legislature to be chosen at the next general election and that it be published for 3 months previous to the time of holding such election.

SJR37,2,13 (End)