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• Introduced by Sen. Joseph Zarelli, (R-Ridgefield) (R) on January 20, 2011, to propose an amendment to the state Constitution requiring extraordinary revenue growth to be transferred to the budget stabilization account.
  • Referred to the Senate Ways & Means Committee on January 20, 2011.
  • Referred to the Senate Rules Committee on February 28, 2011.
• Passed 45 to 3 in the Senate on March 4, 2011, proposes an amendment to the state Constitution requiring extraordinary revenue growth to be transferred to the budget stabilization account.
  Who Voted "Yes" and Who Voted "No"
• Received in the House on March 5, 2011.
  • Referred to the House Ways & Means Committee on March 5, 2011.
  • Referred to the Senate Rules Committee on April 22, 2011.
• Received in the Senate on April 26, 2011.
• Passed 39 to 3 in the Senate on April 26, 2011.
  Who Voted "Yes" and Who Voted "No"
• Received in the House on April 29, 2011.
  • Referred to the House Ways & Means Committee on April 29, 2011.
    • Amendment offered in the House on February 20, 2011, to amend the Constitution transfering three quarters of any extraordinary revenue growth to the Budget Stabilization Account at the end of each fiscal biennium. The transfer of extraordinary revenue growth is in addition to the existing 1 percent transfer and will be made only to the extent that it exceeds that transfer. "Extraordinary revenue growth" is defined as the amount by which the growth in general state revenues exceeds by one-third the average biennial growth in general state revenues over the prior five biennia. The transfer of extraordinary revenue growth will not take place in a fiscal biennium following a fiscal biennium in which state employment growth averaged less than 1 percent. In determining whether extraordinary revenue growth has occurred, historical general state revenues must be adjusted to reflect statutory changes to revenue dedication. The amendment passed by voice vote in the House on February 20, 2011.
• Passed 76 to 10 in the House on May 21, 2011.
  Who Voted "Yes" and Who Voted "No"
• Received in the Senate on May 22, 2011, to transfer three quarters of "extraordinary revenue growth" to the Budget Stabilization Account. Passed 47 to 0 in the Senate on May 22, 2011.
  Who Voted "Yes" and Who Voted "No"