Text of Measure
The Constitution of the State of Oregon is amended by creating a new section to read:
(1) The purpose of this section is to limit the rate of growth of total spending by the state government. Notwithstanding any other limitation on state spending, except as provided in subsection (3), any increase in total spending by the state from one biennium to the next shall be no greater than the percentage increase in state population, if any, plus inflation, if any, over the two calendar years immediately preceding the start of the biennium.
(2) For purposes of this section:
(a) "Total spending" means all disbursements pursuant to all acts by the Legislative Assembly authorizing the expenditure of public funds, except disbursements of: 1) money to fund emergency or "rainy day" funds; 2) federal funds; 3) money pursuant to Article IX, section 14 of this Constitution, commonly referred to as "The Kicker"; 4) money to fund tax and other refunds; 5) money voluntarily donated to a state agency; 6) proceeds from the sale of bonds specifically approved by voters; and 7) proceeds from the sale of real property at real market value to non-governmental entities.
(b) "Inflation" means the percentage change in the United States Bureau of Labor Statistics Consumer Price Index for Portland - Salem, all items, all urban consumers, or its successor index.
(c) "Population" means the annual federal census estimates of the state population, adjusted every decade to match the federal census.
(3) The limit on total spending established by this section for each biennium may be exceeded for that biennium by an amount approved by two-thirds of each house of the Legislative Assembly and referred to and approved by a majority of electors voting on the issue in a general election.