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September 12, 2007

TABOR II submitted for state review

A citizens' initiative to limit government spending was submitted to Secretary of State Matthew Dunlap on Monday.

The initiative, called "An Act to Provide Tax Relief," limits state spending to the rate of inflation plus population growth over an average of three years, according to the Associated Press. The measure would prohibit a decrease in spending, and limit municipal and county spending to the increase in personal income growth, capped at 2.7%, plus the growth of new taxed property, the AP reported. The measure -- the text of which can be found here -- is being compared to last year's failed Taxpayer Bill of Rights proposal.

Dunlap's office has 10 business days to approve, reject or revise the wording of the initiative. If the wording is approved, supporters have 18 months to gather 55,087 valid signatures to make it on the 2008 ballot.

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