Nebraska Tax and Spending Limits, Measure 413 (1998)
The Nebraska Tax and Spending Limits Amendment, also known as Initiative Measure 413, was an initiated constitutional amendment on the November 3, 1998 election ballot in Nebraska, where it was defeated.
|Measure 413 (Tax and Spending Limits)|
Official results via: Nebraska Blue Book 2008-09 (p.262)
Text of measure
A constitutional amendment to limit government spending by limiting tax revenue increases by state and local governments. Tax revenue increases would be limited to the rate of inflation, population growth, costs of temporary emergencies, and new unfunded federal mandates. Voters may elect to exceed the limit. Property tax rates or sales and income tax rates would be reduced if projected local or state tax revenues exceed the increase permitted. Taxes above the limit would be returned through reduced tax rates. After five years, the Legislature, by three-fourths vote, and with the Governor's approval, may suspend the limit.