Proposed Legislative Amendment on Spending Cap
Amendment Purpose:Proposed Spending Cap Amendments to the New York State Constitution
Summary of Amendment:
Places limitations on the amount of money that the governor may propose to spend in a given fiscal year.
Authorizes the voters to approve any increases in taxes, fees or surcharges beyond two percent.
Limits state spending, excluding the disbursement of proceeds from bonds, bond anticipation notes and federal grants, to the amount expended in the previous year plus an amount equal to inflation.
Amends constitution to require the assent of two-thirds of each house of the legislature for the increase of revenues.