In the post below, I posted the link to CT’s balanced budget amendment. Our constitution mandates a balanced budget. Connecticut’s fiscal year begins July 1st. The Constitution simply requires expenditures not to exceed estimated revenue.
Here’s a link to the bill signed by Governor Malloy. The legislation contemplates the legislature having to go back to the cutting room prior to July 1, 2011.
Here’s the relevant text of the bill signed by Governor Malloy:
Sec. 12. (Effective from passage) (a) Any agreement reached through negotiations between the state and the State Employees Bargaining Unit Coalition (SEBAC) concerning wages, hours and other conditions of employment to achieve the labor-management savings specified in this act shall be subject to approval of the General Assembly in accordance with section 5-278 of the general statutes.
(b) (1) On or before May 31, 2011, the Governor shall submit the plan described in this subdivision in writing to the General Assembly. If an agreement described in subsection (a) of this section has been reached, such plan shall include (A) recommendations for legislation to apply terms comparable to those contained in such agreement to nonrepresented employees for the fiscal years ending June 30, 2012, and June 30, 2013, and (B) if such agreement achieves less than two billion dollars in savings over the biennium ending June 30, 2013, recommendations for budget adjustments to achieve the difference between that amount and two billion dollars. If no agreement described in subsection (a) of this section has been reached, such plan shall include recommendations for budget adjustments not to exceed two billion dollars over the biennium ending June 30, 2013.
(2) On or before June 8, 2011, the General Assembly shall enact legislation to (A) apply terms comparable to those contained in an agreement described in subsection (a) of this section and approved in accordance with section 5-278 of the general statutes to nonrepresented employees for the fiscal years ending June 30, 2012, and June 30, 2013, and (B) achieve budget adjustments not to exceed two billion dollars over the biennium ending June 30, 2013, to the extent such savings have not been achieved under any such agreement.
(c) The Secretary of the Office of Policy and Management shall make reductions in expenditures not to exceed two billion dollars over the biennium ending June 30, 2013, (1) as provided in an agreement described in subsection (a) of this section and approved in accordance with section 5-278 of the general statutes for the fiscal years ending June 30, 2012, and June 30, 2013, and (2) contained in legislation enacted by the General Assembly under subdivision (2) of subsection (b) of this section.