The TEA says, "SJR 629 is largely modeled after the so-called Taxpayer Bill of Rights (TABOR) which was enacted in Colorado in 1991. The 1991 provision had such a negative impact that Colorado voters last year suspended several key provisions of the amendment. "(snip)
A side-by-side comparison of SJR 629 and Colorado's Taxpayers Bill of Rights shows that the two share almost no similarities.
...SJR 629 really only does three things:It's one thing to disagree on the issue--and a completely different matter to encourage advocacy based on error. You should read both the TEA report and Bill's corrections to that report. And I encourage you to contact the Senate Finance Ways & Means Committee members and let them know how you feel about how they take and spend your money.
- It changes the Tennessee constitution's existing cap on the annual growth of the state budget to allow it to be broken only if two-thirds of the legislature approves, rather than the current simple-majority vote.
- It puts unspent surplus funds in the state's rainy day fund.
- Once the rainy day fund reaches a set target, additional surpluses go to reducing the state sales tax.