The measure, which would amend the state constitution if approved by voters, would allow government spending to grow from year to year only at the rate of inflation and the rate the state’s population had grown.
Any extra money brought in by taxes would have to be used to pay down debt, go into a “rainy day” reserve fund, pay for education or be refunded to taxpayers.
The new version of the plan assures that education spending would be the first priority for extra tax revenues. It doubled the amount of money that would go into emergency reserve funds and would let lawmakers lift the limit in case of a financial crisis in which the state’s entire reserve fund was depleted.
Rogers said he was satisfied with the changes and that the plan still meets his goal of returning money to taxpayers when the state’s coffers are filled up.