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This bill limits increases in the state's budget to an amount equal to the rates of population growth and inflation. This provides a clear metric for managing future budget growth. If our population grows along with the consumer price index, so may our budget. Conversely, should our population shrink, or we experience deflation, then our budget cap would be lowered to reflect these phenomena. This spending cap ensures that our budget management appropriately reflects Texas' size and economy. Further, this bill requires that budget surpluses be apportioned between the Rainy Day Fund, the Property Tax Relief Fund, and a franchise tax rebate.