Proposes constitutional amendment to establish a 2 percent cap on annual appropriations increases for certain State government spending.

SCR 70 proposes a constitutional amendment to limit annual increases in most New Jersey state government spending to 2% per fiscal year. This cap applies to all state budget appropriations except for specific exemptions, including school aid, federal funds, pension payments, capital projects, debt payments, emergency needs (like disasters), and property tax relief funds. Unused budget amounts from previous years can be carried forward without counting toward the new year's 2% limit. The amendment would require a two-thirds vote in both legislative chambers to override the cap for emergency spending, but such overrides wouldn't affect future year limits.