REFERENCE TITLE: budget stabilization; transfers; prohibition

State of Arizona House of Representatives Fifty-first Legislature Second Regular Session 2014

HCR 2037

Introduced by Representative Olson

 

A CONCURRENT RESOLUTION

 

PROPOSING AN AMENDMENT TO THE CONSTITUTION OF ARIZONA; AMENDING ARTICLE IX,

CONSTITUTION OF ARIZONA, BY ADDING SECTION 25; RELATING to the state BUDGET.

 

 

(TEXT OF BILL BEGINS ON NEXT PAGE)

 

Be it resolved by the House of Representatives of the State of Arizona, the Senate concurring:

1.  Article IX, Constitution of Arizona, is proposed to be amended by adding section 25 as follows if approved by the voters and on proclamation of the Governor:

25.  Budget stabilization fund; transfers

A.  If the general fund appropriations of the current fiscal year exceed the general fund appropriations of the immediately preceding fiscal year, the legislature may not transfer monies from the budget stabilization fund to the state general fund.

B.  Except as provided in subsection c of this section, if the general fund appropriations of the current fiscal year are equal to or less than the general fund appropriations of the immediately preceding fiscal year and the general fund revenues of the current fiscal year are less than the current year general fund appropriations, the legislature may transfer monies from the budget stabilization fund to the state general fund.

C.  In any fiscal year, the amount transferred from the budget stabilization fund to the general fund may not exceed the amount needed to make the current fiscal year general fund revenues equal the current fiscal year general fund appropriations.

D.  If the legislature has transferred monies from the budget stabilization fund to the general fund pursuant to subsection B of this section, the legislature may not make any subsequent appropriations that would cause the total general fund appropriations of the current fiscal year to exceed the total general fund appropriations of the immediately preceding fiscal year unless the legislature first transfers monies from the general fund to the budget stabilization fund in the same amount as the total of all current year transfers from the budget stabilization fund to the general fund.

2.  The Secretary of State shall submit this proposition to the voters at the next general election as provided by article XXI, Constitution of Arizona.