Present Constitution provides that the legislature shall provide for the determination of an expenditure limit for each fiscal year to be established during the first quarter of the calendar year for the next fiscal year.

Present Constitution provides that the expenditure limit for subsequent fiscal years after the 1991-1992 Fiscal Year shall not exceed the expenditure limit for the current fiscal year plus an amount equal to that limit times a positive growth factor.

Present Constitution provides that the growth factor is the annual percentage rate of change of personal income for Louisiana as defined and reported by the United States Department of Commerce for the three calendar years prior to the fiscal year for which the limit is calculated.

Proposed Constitutional Amendment provides that the expenditure limit for subsequent fiscal years after the 1991-1992 Fiscal Year shall be as provided for by law.

Proposed Constitutional Amendment provides that the legislature shall establish by law a procedure to determine the expenditure limit which shall not provide for growth in the expenditure limit of more than 5% in any year. Further provides that once the procedure is established by law, it shall not be changed except by a law enacted by 2/3 of the elected members of each house of the legislature.