AN AMENDMENT TO THE ARKANSAS CONSTITUTION TO CREATE THE ARKANSAS TAXPAYER BILL OF RIGHTS.

Senate Joint Resolution 17 proposes an amendment to the Arkansas Constitution to create an "Arkansas Taxpayer Bill of Rights." This amendment would require the General Assembly to utilize a budgeting process that prohibits deficit spending. It would also limit the annual increase in state expenditures of net general revenue to the lower of three percent or the increase in the Consumer Price Index. Furthermore, enacting new taxes, increasing rates, or extending expiring taxes or fees would require a three-fourths vote in both legislative houses, and excess net general revenues would be refunded to taxpayers.