Honorable Joan Huffman, Chair, Senate Committee on Finance
FROM:
Jerry McGinty, Director, Legislative Budget Board
IN RE:
SJR4 by Bettencourt (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.), As Introduced
No fiscal implication to the State is anticipated, other than the cost of publication.
The cost to the state for publication of the resolution is $204,406.
The resolution would propose an amendment to Article VIII, Section 22 to state that certain appropriations used for property tax relief would not be considered when determining whether the rate of growth of appropriations in a biennium has exceeded the constitutional tax spending limit.
The proposed amendment would apply to appropriations made for the state fiscal biennium beginning September 1, 2023, and subsequent biennia.
Adoption of the proposed constitutional amendment alone would have no fiscal impact on the state or units of local government.
The proposed amendment would be submitted to voters at an election to be held November 7, 2023.
Local Government Impact
No fiscal implication to units of local government is anticipated.