Bills · 2025-2026 Regular Session
Relating to: accounting and expenditure of state funds and reduction of deficit (first consideration).
Administration department of — Budget and fiscal issues Administrative code Appropriation Arts Bills legislative Budget bills and process Constitutional amendments — First consideration Consumer protection Debt public
- Introduced, stopped here
- Passes Senate, not reached
- Passes Assembly, not reached
- Adopted, not reached
Unfamiliar terms? Glossary
What this bill does
Plain-language analysis by the nonpartisan Legislative Reference Bureau
This constitutional amendment, proposed to the 2025 legislature on first consideration, requires the state to account for and report all funds it receives or expends in accordance with generally accepted accounting principles (GAAP).
The amendment further authorizes the legislature to establish the budgetary basis of accounting, requires that any deficit of a state fund affected by a budget bill be reduced annually by 10 percent of any projected increase in tax revenues in that fund, and requires that, once the deficit is eliminated, the legislature may not pass any bill that would result in a projected deficit.
A constitutional amendment requires adoption by two successive legislatures, and ratification by the people, before it can become effective.