If this measure results in revenue growth in excess of the spending limits is the government entity required to refund the excess to the taxpayers?
No, unlike California’s Proposition #4 (also known as the Gann Initiative), which sets requirements for refunds, and many other state measures, when tax collections exceed spending limits this measure does not require government to provide refunds to taxpayers. If and when revenues exceed spending limits it is our hope that our elected representatives will either refund excesses to the taxpayers, pay down existing bonds or reduce future taxes. In the event this does not happen we would initiate a measure to require it done.
