LRB-2954/1
SRM:cjs:ph
2009 - 2010 LEGISLATURE
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
1To amend section 5 of article VIII of the constitution;
relating to: accounting and
2expenditure 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
3Resolved by the senate, the assembly concurring, That:
SJR37, s. 1
4Section
1. Section 5 of article VIII of the constitution is amended to read:
SJR37,2,95
[Article VIII] Section 5.
The legislature shall provide for an annual tax
6sufficient to defray the estimated expenses of the state for each year; and whenever
7the expenses of any year shall exceed the income, the legislature shall provide for
1levying a tax for the ensuing year, sufficient, with other sources of income, to pay the
2deficiency as well as the estimated expenses of such ensuing year.
The state shall
3budget and account for all funds it receives or spends in accordance with generally
4accepted accounting principles. The legislature shall pass an annual or biennial
5budget bill which authorizes expenditures and other financing uses from the general
6fund that do not exceed estimated revenues and other financing sources to the
7general fund, as projected by the legislature in accordance with generally accepted
8accounting principles, and reduces any existing general fund deficit by at least 10
9percent for each fiscal year covered by the bill.
SJR37,2,12
10Be it further resolved, That this proposed amendment be referred to the
11legislature to be chosen at the next general election and that it be published for 3
12months previous to the time of holding such election.
