Local Expenditure Cap
Expenditure growth of counties, cities, and towns is limited to the annual increase in the cost of living and population growth. School districts shall limit their expenditures to adjust for changes in the student population and the cost of living, and multiply the adjusted result by 1.10.
The limit may be exceeded by a 66⅔% vote of the governing body and majority vote of the electorate prior to the fiscal year in which the expenditure limitation is to be exceeded. Excess expenditures for school districts may be authorized by a 66⅔% vote in each house of the legislature for a single fiscal year or by a majority vote of the electorate within the district.