8.54 GENERAL FUND EXPENDITURE LIMITATION.
1. For the purposes of section 8.22A, this section, and sections
8.55 through 8.57:
a. "Adjusted revenue estimate" means the appropriate revenue
estimate for the general fund for the following fiscal year as
determined by the revenue estimating conference under section 8.22A,
subsection 3, adjusted by subtracting estimated tax refunds payable
from that estimated revenue and as determined by the conference,
adding any new revenues which may be considered to be eligible for
deposit in the general fund.
b."New revenues" means moneys which are received by the
state due to increased tax rates and fees or newly created taxes and
fees over and above those moneys which are received due to state
taxes and fees which are in effect as of January 1 following the
December state revenue estimating conference. "New revenues"
also includes moneys received by the general fund of the state due to
new transfers over and above those moneys received by the general
fund of the state due to transfers which are in effect as of January
1 following the December state revenue estimating conference. The
department of management shall obtain concurrence from the revenue
estimating conference on the eligibility of transfers to the general
fund of the state which are to be considered as new revenue in
determining the state general fund expenditure limitation.
2. There is created a state general fund expenditure limitation
for each fiscal year calculated as provided in this section. An
expenditure limitation shall be used for the portion of the budget
process commencing on the date the revenue estimating conference
agrees to a revenue estimate for the following fiscal year in
accordance with section 8.22A, subsection 3, and ending with the
governor's final approval or disapproval of the appropriations bills
applicable to that fiscal year that were passed prior to July 1 of
that fiscal year in a regular or extraordinary legislative session.
3. Except as otherwise provided in this section, the state
general fund expenditure limitation for a fiscal year shall be
ninety-nine percent of the adjusted revenue estimate.
4. The state general fund expenditure limitation amount provided
for in this section shall be used by the governor in the preparation
of the budget under section 8.22 and approval of the budget and by
the general assembly in the budget process. If a source for new
revenues is proposed, the budget revenue projection used for that new
revenue source for the period beginning on the effective date of the
new revenue source and ending in the fiscal year in which the source
is included in the revenue base shall be an amount determined by
subtracting estimated tax refunds payable from the projected revenue
from that new revenue source, multiplied by ninety-five percent. If
a new revenue source is established and implemented, the original
state general fund expenditure limitation amount provided for in
subsection 3 shall be readjusted to include ninety-five percent of
the estimated revenue from the new revenue source.
5. For fiscal years in which section 8.55, subsection 2, results
in moneys being transferred to the general fund, the original state
general fund expenditure limitation amount provided for in subsection
3 shall be readjusted to include the moneys which are so transferred.
6. The scope of the expenditure limitation under subsection 3
shall not encompass federal funds, donations, constitutionally
dedicated moneys, and moneys in expenditures from state retirement
system moneys.
7. The governor shall transmit to the general assembly, in
accordance with section 8.21, a budget which does not exceed the
state general fund expenditure limitation. The general assembly
shall pass a budget which does not exceed the state general fund
expenditure limitation. The governor shall not transmit a budget
with recommended appropriations in excess of the state general fund
expenditure limitation and the general assembly shall not pass a
budget with appropriations in excess of the state general fund
expenditure limitation. The governor shall not approve or disapprove
appropriation bills or items of appropriation bills passed by the
general assembly in a manner that would cause the final budget
approved by the governor to exceed the state general fund expenditure
limitation. In complying with the requirements of this subsection,
the governor and the general assembly shall not rely on any
anticipated reversion of appropriations in order to meet the state
general fund expenditure limitation.
8.54 GENERAL FUND EXPENDITURE LIMITATION.
1. For the purposes of section 8.22A, this section, and sections
8.55 through 8.57:
a. "Adjusted revenue estimate" means the appropriate revenue
estimate for the general fund for the following fiscal year as
determined by the revenue estimating conference under section 8.22A,
subsection 3, adjusted by subtracting estimated tax refunds payable
from that estimated revenue and as determined by the conference,
adding any new revenues which may be considered to be eligible for
deposit in the general fund.
b."New revenues" means moneys which are received by the
state due to increased tax rates and fees or newly created taxes and
fees over and above those moneys which are received due to state
taxes and fees which are in effect as of January 1 following the
December state revenue estimating conference. "New revenues"
also includes moneys received by the general fund of the state due to
new transfers over and above those moneys received by the general
fund of the state due to transfers which are in effect as of January
1 following the December state revenue estimating conference. The
department of management shall obtain concurrence from the revenue
estimating conference on the eligibility of transfers to the general
fund of the state which are to be considered as new revenue in
determining the state general fund expenditure limitation.
2. There is created a state general fund expenditure limitation
for each fiscal year calculated as provided in this section. An
expenditure limitation shall be used for the portion of the budget
process commencing on the date the revenue estimating conference
agrees to a revenue estimate for the following fiscal year in
accordance with section 8.22A, subsection 3, and ending with the
governor's final approval or disapproval of the appropriations bills
applicable to that fiscal year that were passed prior to July 1 of
that fiscal year in a regular or extraordinary legislative session.
3. Except as otherwise provided in this section, the state
general fund expenditure limitation for a fiscal year shall be
ninety-nine percent of the adjusted revenue estimate.
4. The state general fund expenditure limitation amount provided
for in this section shall be used by the governor in the preparation
of the budget under section 8.22 and approval of the budget and by
the general assembly in the budget process. If a source for new
revenues is proposed, the budget revenue projection used for that new
revenue source for the period beginning on the effective date of the
new revenue source and ending in the fiscal year in which the source
is included in the revenue base shall be an amount determined by
subtracting estimated tax refunds payable from the projected revenue
from that new revenue source, multiplied by ninety-five percent. If
a new revenue source is established and implemented, the original
state general fund expenditure limitation amount provided for in
subsection 3 shall be readjusted to include ninety-five percent of
the estimated revenue from the new revenue source.
5. For fiscal years in which section 8.55, subsection 2, results
in moneys being transferred to the general fund, the original state
general fund expenditure limitation amount provided for in subsection
3 shall be readjusted to include the moneys which are so transferred.
6. The scope of the expenditure limitation under subsection 3
shall not encompass federal funds, donations, constitutionally
dedicated moneys, and moneys in expenditures from state retirement
system moneys.
7. The governor shall transmit to the general assembly, in
accordance with section 8.21, a budget which does not exceed the
state general fund expenditure limitation. The general assembly
shall pass a budget which does not exceed the state general fund
expenditure limitation. The governor shall not transmit a budget
with recommended appropriations in excess of the state general fund
expenditure limitation and the general assembly shall not pass a
budget with appropriations in excess of the state general fund
expenditure limitation. The governor shall not approve or disapprove
appropriation bills or items of appropriation bills passed by the
general assembly in a manner that would cause the final budget
approved by the governor to exceed the state general fund expenditure
limitation. In complying with the requirements of this subsection,
the governor and the general assembly shall not rely on any
anticipated reversion of appropriations in order to meet the state
general fund expenditure limitation.
8.54 GENERAL FUND EXPENDITURE LIMITATION.
1. For the purposes of section 8.22A, this section, and sections
8.55 through 8.57:
a. "Adjusted revenue estimate" means the appropriate revenue
estimate for the general fund for the following fiscal year as
determined by the revenue estimating conference under section 8.22A,
subsection 3, adjusted by subtracting estimated tax refunds payable
from that estimated revenue and as determined by the conference,
adding any new revenues which may be considered to be eligible for
deposit in the general fund.
b."New revenues" means moneys which are received by the
state due to increased tax rates and fees or newly created taxes and
fees over and above those moneys which are received due to state
taxes and fees which are in effect as of January 1 following the
December state revenue estimating conference. "New revenues"
also includes moneys received by the general fund of the state due to
new transfers over and above those moneys received by the general
fund of the state due to transfers which are in effect as of January
1 following the December state revenue estimating conference. The
department of management shall obtain concurrence from the revenue
estimating conference on the eligibility of transfers to the general
fund of the state which are to be considered as new revenue in
determining the state general fund expenditure limitation.
2. There is created a state general fund expenditure limitation
for each fiscal year calculated as provided in this section. An
expenditure limitation shall be used for the portion of the budget
process commencing on the date the revenue estimating conference
agrees to a revenue estimate for the following fiscal year in
accordance with section 8.22A, subsection 3, and ending with the
governor's final approval or disapproval of the appropriations bills
applicable to that fiscal year that were passed prior to July 1 of
that fiscal year in a regular or extraordinary legislative session.
3. Except as otherwise provided in this section, the state
general fund expenditure limitation for a fiscal year shall be
ninety-nine percent of the adjusted revenue estimate.
4. The state general fund expenditure limitation amount provided
for in this section shall be used by the governor in the preparation
of the budget under section 8.22 and approval of the budget and by
the general assembly in the budget process. If a source for new
revenues is proposed, the budget revenue projection used for that new
revenue source for the period beginning on the effective date of the
new revenue source and ending in the fiscal year in which the source
is included in the revenue base shall be an amount determined by
subtracting estimated tax refunds payable from the projected revenue
from that new revenue source, multiplied by ninety-five percent. If
a new revenue source is established and implemented, the original
state general fund expenditure limitation amount provided for in
subsection 3 shall be readjusted to include ninety-five percent of
the estimated revenue from the new revenue source.
5. For fiscal years in which section 8.55, subsection 2, results
in moneys being transferred to the general fund, the original state
general fund expenditure limitation amount provided for in subsection
3 shall be readjusted to include the moneys which are so transferred.
6. The scope of the expenditure limitation under subsection 3
shall not encompass federal funds, donations, constitutionally
dedicated moneys, and moneys in expenditures from state retirement
system moneys.
7. The governor shall transmit to the general assembly, in
accordance with section 8.21, a budget which does not exceed the
state general fund expenditure limitation. The general assembly
shall pass a budget which does not exceed the state general fund
expenditure limitation. The governor shall not transmit a budget
with recommended appropriations in excess of the state general fund
expenditure limitation and the general assembly shall not pass a
budget with appropriations in excess of the state general fund
expenditure limitation. The governor shall not approve or disapprove
appropriation bills or items of appropriation bills passed by the
general assembly in a manner that would cause the final budget
approved by the governor to exceed the state general fund expenditure
limitation. In complying with the requirements of this subsection,
the governor and the general assembly shall not rely on any
anticipated reversion of appropriations in order to meet the state
general fund expenditure limitation.
