The bill amends Section 35-3-2 of the General Laws in Chapter 35-3, titled "State Budget," to require the General Assembly to adopt a spending cap on general budget expenditures. This cap will be determined by the greater of two criteria: the average five-year increase in personal income or the annual increase in inflation as measured by the consumer price index. The act will take effect immediately upon passage.

Statutes affected:
7250: 35-3-2