House bill to cap state revenue expenditures

Representative Bruce Westerman of district 22 proposed House Bill 1041 that would limit the increase in general revenue from year to year. The bill, sponsored by 30 representatives and five senators, states that “the Director of the Department of Finance shall see that the funds on hand and estimated to become available to each state agency are sufficient to maintain the state and all state agencies on a sound financial basis without incurring a deficit.” The bill goes on to state that “the general revenue expenditures for each fiscal year do not exceed three percent over the total general revenue expenditures of all state agencies and institutions of higher educations for the previous fiscal year. Read complete bill.

See response from Richard Weiss, director of the state Department of Finance and Administration as reported by the Arkansas News Bureau.

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