Proposing amendment to Oregon Constitution relating to limits on state governmental appropriations.

Proposes amendment to Oregon Constitution to limit increase in state governmental appropriations for general governmental purposes in biennium to least of percentage increase in projected personal income, percentage increase in projected population growth plus inflation or percentage increase in projected gross domestic product of Oregon for biennium. Transfers any excess revenues to reserve fund. Refers proposed amendment to people for their approval or rejection at next regular general election.