Plain English Breakdown
The official source material does not provide details on enforcement mechanisms or consequences for exceeding the spending limit.
Setting a Limit on State Spending
This act sets a limit on how much the state can spend in one fiscal year compared to the previous year.
What This Bill Does
- Sets a rule that the state cannot increase its spending by more than 1% from one fiscal year to the next, unless there are special exceptions.
- Defines which types of money and funds are not included in this limit.
Who It Names or Affects
- The state government, especially those who manage the budget and make financial decisions.
Terms To Know
- Fiscal Year
- A period of one year used for calculating budgets and spending by governments.
- Appropriation
- Money that the government sets aside to spend on specific projects or services.
Limits and Unknowns
- The bill does not specify what happens if the state tries to exceed the spending limit.
- It is unclear how strictly this rule will be enforced and by whom.