Bill > H7257

This joint resolution proposes an amendment to the state's Constitution to establish a limit on how much state spending can increase each year. Specifically, the total amount of money the state government can authorize for spending in its annual budget cannot grow by more than the larger of two figures: either the percentage increase in the Consumer Price Index for All Urban Consumers (CPI-U), which measures inflation, or the percentage increase in Rhode Island's personal income. The resolution also outlines exceptions to this limit, which can be established by law and may include spending on debt repayment, federal funds that must be spent, emergency expenses approved by a two-thirds vote of the general assembly, and other situations defined by law. Before this amendment can become part of the Constitution, it must be approved by the voters in a statewide election, and the Secretary of State is responsible for publishing the proposed amendment and ensuring it is properly presented to the public and at polling places.

Budget and Finance

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