(a) The budget document presented by the governor to the general assembly shall include a statement or showing projecting Tennessee personal income as provided in § 9-4-5201, for the ensuing fiscal year, for the calendar year in progress, for the fiscal year in progress, for the latest completed calendar year, and for calendar year 1977.
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Terms Used In Tennessee Code 9-4-5203

  • Fiscal year: The fiscal year is the accounting period for the government. For the federal government, this begins on October 1 and ends on September 30. The fiscal year is designated by the calendar year in which it ends; for example, fiscal year 2006 begins on October 1, 2005 and ends on September 30, 2006.
  • State: when applied to the different parts of the United States, includes the District of Columbia and the several territories of the United States. See Tennessee Code 1-3-105
  • Year: means a calendar year, unless otherwise expressed. See Tennessee Code 1-3-105
(b) The budget document presented by the governor shall also include a statement or a summary showing recommended appropriations from state tax revenues for the ensuing fiscal year, such actual appropriations for the fiscal year in progress, and the 1977-1978 fiscal year appropriations from state tax revenues.
(c)

(1) When in any budget document the percentage increase of recommended appropriations from state tax revenues exceeds the percentage increase of estimated Tennessee personal income as defined in § 9-4-5201, for the ensuing fiscal year, the governor shall submit a bill or bills for introduction in both houses of the general assembly which shall contain no other subject matter and shall set forth the dollar and percentage by which the estimated growth of the state’s economy is exceeded by the appropriations of state tax revenue in accordance with the Constitution of Tennessee, Article II, § 24.
(2) For purposes of determining compliance with this section and with the Constitution of Tennessee, Article II, § 24:

(A) Funds allocated to the reserve for revenue fluctuations shall not be included as appropriations from state tax revenues; and
(B) Funds expended from the reserve for revenue fluctuations to offset shortfalls in state tax revenue in accordance with § 9-4-211(b) shall not be included as appropriations from state tax revenues.
(d) When the percentage increase of appropriations of state tax revenue by the general assembly exceeds the percentage increase of estimated Tennessee personal income as defined in § 9-4-5201, for the ensuing fiscal year, the general assembly shall by law containing no other subject matter, set forth the dollar and the percentage by which the estimated growth of the state’s economy is exceeded by the appropriations of state tax revenue in accordance with Constitution of Tennessee, Article II, § 24.
(e)

(1) The index of appropriations from state tax revenues for the 2011-2012 fiscal year may exceed the index of estimated growth in the state’s economy by two hundred fifty million dollars ($250,000,000) or two and one one-hundredths percent (2.01%).
(2) The index of appropriations from state tax revenues for the 2012-2013 fiscal year may exceed the index of estimated growth in the state’s economy by one hundred thirty-two million five hundred thousand dollars ($132,500,000) or one percent (1.0%).
(3) The index of appropriations from state tax revenues for the 2016-2017 fiscal year may exceed the index of estimated growth in the state’s economy by four hundred thirty-eight million dollars ($438,000,000) or two and eighty-five hundredths percent (2.85%).
(4) The index of appropriations from state tax revenues for the 2019-2020 fiscal year may exceed the index of estimated growth in the state’s economy by six hundred twenty-nine million dollars ($629,000,000) or three and six-tenths percent (3.6%).
(5) The index of appropriations from state tax revenues for the 2021-2022 fiscal year may exceed the index of estimated growth in the state’s economy by two billion nine hundred ninety-seven million six hundred thousand dollars ($2,997,600,000) or sixteen and eight hundredths percent (16.08%).
(6) The index of appropriations from state tax revenues for the 2022-2023 fiscal year may exceed the index of estimated growth in the state’s economy by two billion five hundred thirty-six million six hundred thousand dollars ($2,536,600,000) or eleven and forty-five hundredths percent (11.45%).
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