§2041.__Expenditure and revenue requirements; construction of

chapter

The following provisions of this section apply, notwithstanding any other provision of law.

1.__Expenditure limitations.__Annual state and local expenditures may not exceed the limits provided in this chapter.

2.__Revenue increases.__An increase in revenue may only be adopted as provided in section 2043.

3.__Construction.__It is the intent of the Legislature that this chapter be interpreted liberally to restrain excess growth of state and local government.

§2042.__Definitions

As used in this chapter, unless the context otherwise indicates, the following terms have the following meanings.

1.__Election officer.__"Election officer" means:

A.__In a statewide, county or municipal election, the municipal registrar of voters; or

B.__In an election by the voters of a local district that is not a municipality, the official with responsibility for managing the list of voters of the local district.

2.__Increase in revenue.__"Increase in revenue" means any legislation, local ordinance or tax levy that causes a net gain in revenue and:

A.__Enacts a new tax or fee;

B.__Increases the rate or expands the base of an existing tax or fee;

C.__Reduces benefits or eligibility under the Business Equipment Tax Reimbursement program established in Title 36, chapter 915 without providing the same level of benefits and eligibility under a comparable program or without providing a 100% property tax exemption for property eligible for reimbursement under Title 36, chapter 915;

D.__Repeals or reduces any tax exemption, credit or refund; or