H-1628              _______________________________________________

                                           HOUSE JOINT RESOLUTION NO. 48

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State of Washington                              49th Legislature                              1985 Regular Session

By Representatives Nealey, Allen, Hastings, Isaacson, Holland J. Williams and Brough

Read first time 2/8/85 and referred to Committee on Ways & Means.

BE IT RESOLVED, BY THE SENATE AND HOUSE OF REPRESENTATIVES OF THE STATE OF WASHINGTON, IN LEGISLATIVE SESSION ASSEMBLED:

          THAT, At the next general election to be held in this state there shall be submitted to the qualified voters of the state for their approval and ratification, or rejection, an amendment to Article II of the state Constitution by adding a new section to read as follows:

          Article II, section --. (1) After June 30, 1987, the legislature shall make no appropriation that has the effect of increasing state biennial general fund expenditures, as adjusted for inflation, at a rate greater than the estimated annual growth rate in personal income in the state, as adjusted for inflation.  If the estimated annual growth rate in real personal income exceeds two percent, then the rate of growth in general fund expenditures shall be limited to eighty percent of the personal income growth rate.

          (2) The expenditure limitation under subsection (1) of this section is based on the estimated annual growth rate in personal income as determined in the official revenue forecast adopted in conjunction with the governor's biennial budget request, and as compounded for the biennium.

          (3) For the 1987-1989 fiscal biennium and each fiscal biennium thereafter a reserve is established in the general fund consisting of two percent of estimated state general fund revenues.  The reserve shall be calculated based on the official revenue forecast identified in subsection (2) of this section.  Moneys in the reserve may be appropriated only by the affirmative vote of two-thirds of the members of each house of the legislature.  A new reserve shall be established for each fiscal biennium.

BE IT FURTHER RESOLVED, That the secretary of state shall cause notice of the foregoing constitutional amendment to be published at least four times during the four weeks next preceding the election in every legal newspaper in the state.