TITLE: Relating to the state spending limit.

SUMMARY: Relating to the state spending limit.

FULL TEXT:
AN ACT relating to the state spending limit. BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS: SECTION 1. Section 316.002, Government Code, is amended by amending sections (a) and (b) to read as follows: (a) Before the Legislative Budget Board submits the budget as prescribed by Section 322.008(c), the board shall establish: (1) the estimated rate of growth of the state's economy from the current biennium to the next biennium and an updated estimated rate of growth of the state's economy from the previous biennium through the current biennium;(2) the level of appropriations for the current and previous biennium sfrom state tax revenues not dedicated by the constitution; and (3) the amount of state tax revenues not dedicated by the constitution that could be appropriated for the next biennium within the limit established by the estimated rate of growth of the state's economy.; and (4) the amount of state tax revenues not dedicated by the constitution that could be appropriated for the current biennium. (b) Except as provided by Subsection (c), the board shall determine the estimated rate of growth of the state's economy for the next biennium by dividing the estimated Texas total personal income for the next biennium by the estimated Texas total personal income for the current biennium,and for the current biennium by dividing the estimated Texas total personal income for the current biennium by the estimated Texas total personal income for the previous biennium.Using standard statistical methods, the board shall make the estimate by projecting through the biennium the estimated Texas total personal income reported by the United States Department of Commerce or its successor in function. SECTION 2. This Act takes effect September 1, 2013.