(1)The general assembly hereby finds
and declares that:
(a)Section 20 of article X of the state constitution, which was approved by
the registered electors of this state at the 1992 general election, limits fiscal year
spending of the state government;
(b)It is within the legislative prerogative of the general assembly to enact
legislation which will facilitate the operation of section 20 of article X;
(c)It is a legislative prerogative to facilitate compliance with the state fiscal
year spending limit and legislation to implement section 20 of article X as it relates
to state government is a reasonable and necessary exercise of the legislative
prerogative;
(d)In interpreting the provisions of section 20 of article X, the general
assembly has attempted to give the words of
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(1) The general assembly hereby finds
and declares that:
(a) Section 20 of article X of the state constitution, which was approved by
the registered electors of this state at the 1992 general election, limits fiscal year
spending of the state government;
(b) It is within the legislative prerogative of the general assembly to enact
legislation which will facilitate the operation of section 20 of article X;
(c) It is a legislative prerogative to facilitate compliance with the state fiscal
year spending limit and legislation to implement section 20 of article X as it relates
to state government is a reasonable and necessary exercise of the legislative
prerogative;
(d) In interpreting the provisions of section 20 of article X, the general
assembly has attempted to give the words of said constitutional provision their
natural and obvious significance;
(e) Where the meaning of section 20 of article X is uncertain, the general
assembly has attempted to ascertain the intent of those who adopted the measure
and, when appropriate, the intent of the proponents, as well as to apply other
generally accepted rules of construction;
(f) The content of this article represents the considered judgment of the
general assembly as to the meaning of the provisions of section 20 of article X as it
relates to state government.
(2) The general assembly further finds and declares that:
(a) The adoption of section 20 of article X imposes a limit on state fiscal year
spending and the provisions of this article were enacted to facilitate compliance
with the state fiscal year spending limit;
(b) This article reflects the judgment of the general assembly regarding the
meaning and implementation of section 20 of article X of the state constitution as it
relates to state government;
(c) The provisions of this article should not be construed to substitute for
generally accepted accounting principles which are applicable to financial
documents and reports of state government;
(d) The purpose of preparing figures in accordance with this article, to
ensure compliance with the state fiscal year spending limit, may differ from the
purpose of preparing financial statements of the state, to determine the financial
condition of the state;
(e) The financial statements of the state prepared by the state controller
shall be prepared, insofar as possible, in conformity with generally accepted
accounting principles; and
(f) The financial report required by this article shall be prepared in
conformity with generally accepted accounting principles unless otherwise
provided by law or unless an irreconcilable conflict exists between generally
accepted accounting principles and the provisions of section 20 of article X in
which case the provisions of said constitutional provision shall control.
(3) The general assembly further finds and declares that:
(a) When revenues exceed the state fiscal year spending limitation for any
given fiscal year, section 20 (7)(d) of article X of the state constitution requires that
the excess revenues be refunded in the next fiscal year unless voters approve a
revenue change allowing the state to retain the revenues;
(b) It is the duty and intent of the general assembly to comply with the
constitutional requirement to refund state excess revenues;
(c) It is within the legislative prerogative to facilitate compliance with the
constitutional requirement to refund state excess revenues and legislation relating
to the refunding of such excess revenues is a reasonable and necessary exercise of
the legislative prerogative; and
(d) State excess revenues that are carried forward from the fiscal year in
which they accrued shall be refunded in the next fiscal year and shall not be
available for any other governmental purpose unless voters have authorized the
state to retain such revenues.