CON AMEND-RATE OF GROWTH

Proposes to amend the Finance Article of the Illinois Constitution. Provides that in no fiscal year shall the rate of growth of general funds appropriations over the preceding fiscal year exceed the rate of growth of the Illinois economy. Provides that if the General Assembly by adoption of a resolution approved by a record vote of three-fifths of the members of each house finds that an emergency exists and identifies the nature of the emergency and the amount of appropriations in excess of those provided under specified provisions required by the emergency, the General Assembly may provide for appropriations in excess of the specified amount. Provides that the excess amounts may not exceed the amount specified in the authorizing resolution. Effective upon being declared adopted.