APPROPRIATIONS: (Constitutional Amendment) Limits the amount of money that may be appropriated in a fiscal year (Item #14) (EG SEE FISC NOTE GF EX)

This bill amends an existing constitutional amendment that sets spending limits for state government operations. It updates the covered time period to the 2025-2026 fiscal year and adjusts the deadline for the budget limit calculation to no later than January 31, 2025. The legislation also changes the formula used to calculate these limits, allowing the state to consider economic factors from any of the three preceding years instead of just the two. These changes directly affect how the state determines its maximum allowable spending for the upcoming fiscal year.