(1) (a) It is the purpose of this chapter to: (i) place a limitation on the state mandated property tax rate under Title 53F, Chapter 2, State Funding -- Minimum School Program; (ii) place limitations on state government appropriations based upon the combined changes in population and inflation; and (iii) place a limitation on the state's outstanding general obligation debt. (b) The limitations imposed by this chapter are in addition to limitations on tax levies, rates, and revenues otherwise provided for by law.
(a) It is the purpose of this chapter to: (i) place a limitation on the state mandated property tax rate under Title 53F, Chapter 2, State Funding -- Minimum School Program; (ii) place limitations on state government appropriations based upon the combined changes in population and inflation; and (iii) place a limitation on the state's outstanding general obligation debt.
(i) place a limitation on the state mandated property tax rate under Title 53F, Chapter 2, State Funding -- Minimum School Program;
(ii) place limitations on state government appropriations based upon the combined changes in population and inflation; and
(iii) place a limitation on the state's outstanding general obligation debt.
(b) The limitations imposed by this chapter are in addition to limitations on tax levies, rates, and revenues otherwise provided for by law.
(2) (a) This chapter may not be construed as requiring the state to collect the full amount of tax revenues permitted to be appropriated by this chapter. (b) This chapter's purpose is to provide a ceiling, not a floor, limitation on the appropriations of state government.
(a) This chapter may not be construed as requiring the state to collect the full amount of tax revenues permitted to be appropriated by this chapter.
(b) This chapter's purpose is to provide a ceiling, not a floor, limitation on the appropriations of state government.
(3) The recommendations and budget analysis prepared by the Governor's Office of Management and Budget and the Office of the Legislative Fiscal Analyst, as required by Title 36, Chapter 12, Legislative Organization, shall be in strict compliance with the limitations imposed under this chapter.
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