Proposing an amendment to the Oregon Constitution relating to limits on state governmental appropriations.

Proposes an amendment to the Oregon Constitution to limit the increase in state governmental appropriations for general governmental purposes in a biennium to the least of the percentage increase in projected personal income, the percentage increase in projected population growth plus inflation or the percentage increase in projected gross domestic product of Oregon. Transfers any excess revenues to a reserve fund. Refers the proposed amendment to the people for their approval or rejection at the next regular general election.