HJR 7 -- Missouri Savings Account Fund

Sponsor:  Yates

Upon voter approval, this proposed constitutional amendment
creates the Missouri Savings Account Fund.  Beginning with Fiscal
Year 2012, the state must make annual deposits into the fund at a
rate of 2% of the general revenue appropriations for that year,
excluding debt service, appropriations from the fund, and
supplemental appropriations.  If general revenue collections do
not increase by 3% or more from the prior fiscal year, the moneys
deposited into the fund that year will lapse and be available for
appropriation by the General Assembly in the next or any
following fiscal year.

In any year in which there is a budget shortfall or when the
consensus revenue estimate forecasts a decrease in revenue for
the upcoming year, the General Assembly may use one-third of the
moneys in the fund for budgetary purposes.  If the balance in the
fund exceeds one-third of the general revenue collections for any
fiscal year, the excess will lapse to the General Revenue Fund.

Missouri House of Representatives
95th General Assembly, 1st Regular Session
Last Updated November 17, 2009 at 9:26 am