5427-S AMS WM JONE 003

SSB 5427 - S AMD

By Senator Kohl-Welles

   On page 2, beginning on line 29, strike "of the sum of inflation and population change" and insert "((of the sum of inflation and population)) change in personal income"

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EFFECT: In calculating the state expenditure limit, the fiscal growth factor is modified to reflect state personal income growth, rather than the sum of population growth and the rate of inflation. Personal income growth is the sum of population growth, inflation, and per capita personal income growth.