Establishes a state revenue limit and directs excess revenues be deposited in the budget stabilization account.

The bill establishes a state revenue limit based on the previous fiscal year's state revenue limit increased by a fiscal growth factor. If revenue collections exceed the state revenue limit, the excess amount is transferred to the budget stabilization account. The state revenue limit committee is responsible for determining and adjusting the state revenue limit. The fiscal growth factor is calculated based on inflation and population change. The budget stabilization account is governed by specific provisions.

Establishes a state revenue limit and directs excess revenues be deposited in the budget stabilization account.

The bill establishes a state revenue limit based on the previous fiscal year's state revenue limit increased by a fiscal growth factor. If revenue collections exceed the state revenue limit, the excess amount is transferred to the budget stabilization account. The state revenue limit committee is responsible for determining and adjusting the state revenue limit. The fiscal growth factor is calculated based on inflation and population change. The budget stabilization account is governed by specific provisions.