Fiscal Growth Factors

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Section 8 of Initiative 601 requires that any percentage increase in fees that exceeds the fiscal growth factor must be approved by the Legislature. These factors are also used in the calculation of the spending limit.

Beginning with the 2007-09 biennium, the fiscal growth factor is the average growth in state personal income for the prior ten fiscal years.

Through the 2005-07 biennium, the fiscal growth factor was calculated as a three year moving average of population growth and inflation, lagged two years. Inflation was based on the "Implicit Price Deflator for Personal Consumption" as estimated by the federal Department of Commerce. Population growth was based on estimates by the state Office of Financial Management.

Fiscal Yearsort ascending Fiscal Growth Factor Status
FY 2021 5.43% Unofficial
FY 2020 4.62% Subject to revision
FY 2019 4.00% Adopted Nov. 2017
FY 2018 4.08% Adopted Nov. 2016
FY 2017 4.37% Adopted Nov. 2015
FY 2016 4.33% Adopted Nov. 2014
FY 2015 4.48%
FY 2014 4.65%
FY 2013 4.40%
FY 2012 4.34%
FY 2011 4.16%
FY 2010 5.20%
FY 2009 5.57%
FY 2008 5.53%
FY 2007 3.38%
FY 2006 2.82%
FY 2005 3.03%
FY 2004 3.20%
FY 2003 3.29%
FY 2002 2.79%
FY 2001 2.87%
FY 2000 3.32%
FY 1999 4.18%
FY 1998 4.05%
FY 1997 4.45%
FY 1996 5.13%
FY 1995 6.21%
FY 1994 7.18%

 

Members

 

David Schumacher
OFM Director (Chair)

Noah Purcell
Attorney General Designee

Sen. John Braun
Senate Ways & Means

Rep. Bruce Chandler
House Appropriations

Sen. Kevin Ranker
Senate Ways & Means

Rep. Timm Ormsby
House Appropriations