Amendment AA7-ASA3-AJR77

LRBa3057/1

JK:wlj:rs

2005 - 2006 LEGISLATURE

ASSEMBLY AMENDMENT 7, TO ASSEMBLY SUBSTITUTE AMENDMENT 3, TO 2005 ASSEMBLY JOINT RESOLUTION 77

April 27, 2006 - Offered by Representative McCormick.

AJR77-ASA3-AA7,1,1 At the locations indicated, amend the substitute amendment as follows:

AJR77-ASA3-AA7,1,2 1. Page 4, line 15: after that line insert:

AJR77-ASA3-AA7,1,3 " Section 1m. Section 12 of article VIII of the constitution is created to read:

AJR77-ASA3-AA7,1,8 [Article VIII] Section 12. The legislature shall provide systems of accounting, auditing, and reporting of the obligation, receipt, and use of public funds that require financial statements and budgets of the state to be prepared and audited in accordance with generally accepted accounting principles for state governments, not in accordance with a cash-basis or a modified cash-basis accounting method.

AJR77-ASA3-AA7, s. 1n Section 1n. Section 5 of article VIII of the constitution is amended to read:

AJR77-ASA3-AA7,2,4 [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. Moneys received by the state may not be appropriated before the moneys are earned by the state as determined under generally accepted accounting principles for state governments.".

AJR77-ASA3-AA7,2,5 2. Page 4, line 16: before "The" insert "(1)".

AJR77-ASA3-AA7,2,6 3. Page 5, line 2: after that line insert:

AJR77-ASA3-AA7,2,18 "(2m) The new section 12 of article VIII of the constitution created in this joint resolution shall be designated by the next higher open whole number in that article if, before the ratification by the people of the amendment proposed in this joint resolution, any other ratified amendment has created a section 12 of article VIII of the constitution of this state. If one or more joint resolutions create a section 12 of article VIII simultaneously with the ratification by the people of the amendment proposed in this joint resolution, the sections created shall be numbered and placed in a sequence so that the sections created by the joint resolution having the lowest enrolled joint resolution number have the numbers designated in that joint resolution and the sections created by the other joint resolutions have numbers that are in the same ascending order as are the numbers of the enrolled joint resolutions creating the sections.".

AJR77-ASA3-AA7,2,19 (End)