Rhode Island H7250 mandates the general assembly to limit annual state budget expenditures based on personal income growth or inflation.

Rhode Island H7250 amends the state budget law to require the general assembly to set a spending cap on annual budget expenditures. The cap is determined by the greater of the average five-year increase in personal income or the annual rate of inflation based on the consumer price index. This act takes effect immediately upon passage.

Rhode Island H7250 mandates the general assembly to limit annual state budget expenditures based on personal income growth or inflation.

Rhode Island H7250 amends the state budget law to require the general assembly to set a spending cap on annual budget expenditures. The cap is determined by the greater of the average five-year increase in personal income or the annual rate of inflation based on the consumer price index. This act takes effect immediately upon passage.