This bill proposes the creation of a new section in chapter 54-27 of the North Dakota Century Code, which establishes a limitation on the growth of the state general fund budget. Specifically, it stipulates that the total general fund budget approved by the legislative assembly for a biennium cannot exceed a three percent increase compared to the budget approved for the previous biennium. If the approved increase is less than three percent, the difference can be carried forward for up to three bienniums, allowing for potential future increases beyond the three percent cap.

Additionally, the bill includes a provision that allows for exceptions to this limitation. If a budget increase exceeds three percent, it can still be approved if it receives a two-thirds majority vote from the members elected to each house of the legislative assembly. This framework aims to provide a structured approach to budget growth while allowing for flexibility in exceptional circumstances.