California CodesCalifornia Constitution - CONSArticle XIII B — Government Spending LimitationSection 2
(a)(1) Fifty percent of all revenues received by the State in a fiscal year and in the fiscal year immediately following it in excess of the amount which may be appropriated by the State in compliance with this article during that fiscal year and the fiscal year immediately following it shall be transferred and allocated, from a fund established for that purpose, pursuant to Section 8.5 of Article XVI.
(2) Fifty percent of all revenues received by the State in a fiscal year and in the fiscal year immediately following it in excess of the amount which may be appropriated by the State in compliance with this article during that fiscal year and the fiscal year immediately following it shall be returned by a revision of tax rates or fee schedules within the next two subsequent fiscal years.
(b) All revenues received by an entity of government, other than the State, in a fiscal year and in the fiscal year immediately following it in excess of the amount which may be appropriated by the entity in compliance with this article during that fiscal year and the fiscal year immediately following it shall be returned by a revision of tax rates or fee schedules within the next two subsequent fiscal years.
Notes
Requires excess state revenues measured across two fiscal years to be split equally: 50 percent transferred under the separately referenced allocation rule and 50 percent returned through tax-rate or fee-schedule revisions within the next two fiscal years. Requires nonstate governmental entities to return all comparable excess revenue within that same period.
Use as reference
Lexinter.net | Cal. Const. art. XIII B, § 2 | https://laws.lexinter.net/constitution/california/article-xiii-b/section-2