State finance: budgets; limits for state spending; provide for, and provide for taxpayer refunds. Amends sec. 28, art. IX of the state constitution.

This bill proposes a constitutional amendment to Michigan's budget rules (Article IX, Section 28), directly affecting how the state sets annual spending limits. It replaces current spending caps with a new formula tying budget growth to inflation, population changes, and voter-approved revenue increases. Any state revenue exceeding this calculated limit must be refunded to taxpayers via law. The amendment modifies how the legislature calculates yearly spending authority, requiring excess funds to flow back to citizens rather than remaining in the state budget.