1-S. 2, or spending caps create a Budget Stabilization Fund or BSF. I offered an amendment that was a simple automatic tax refund to the overcharged taxpayer if the following criteria are met: “When the balance in the Budget Stabilization Fund is greater than 15% of the prior year’s actual general fund revenue collection and when the big spenders have grown government to match the 10 year projections (roughly 4.5%), then the taxpayer will get an automatic refund. My amendment was tabled back in 2008, but this time it passed!
2-Another amendment passed that distributed equal portions of excess funds to 3 things 1-tax rebate, 2-debt retirement and 3-OPEB (other post employment benefits).
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