63J-3-201. Appropriations limit — Formula.
- (1) There is established a state appropriations limit for each fiscal year beginning after June 30, 1988.
- (2) For each of these fiscal years, the annual legislative appropriations for this state, its agencies, departments, and institutions may not exceed that sum determined by applying the formula B* P* (I/100) in which:
- (a) “B” equals the base year real per capita appropriations for the state, its agencies, departments, and institutions;
- (b) “P” equals the most recent fiscal year’s population; and
- (c) “I” equals the most recent fiscal year’s inflation index adjusted to reflect fiscal year 1989 as having an index value of 100.
- (3) The revenues specified in Section 63J-3-205 are not subject to the limitation in this section.
Renumbered and Amended by Chapter 382, 2008 General Session