TAXATION AND FINANCE
Section 1. The power of taxation shall never be surrendered, suspended or contracted away.
Section 2. No tax shall be levied or appropriation of public money made or public property transferred except for a public purpose.
Section 3. The property of the State Government or its political subdivisions shall be exempt from taxation.
Section 4. The taxing power shall be reserved to the State Government, except so much thereof as may be delegated by the Legislature to the local governments; provided that the State Government may not tax real property.
The Legislature may apportion State revenues among local governments.
Section 5. The Legislature shall not appropriate funds in excess of estimated available revenues.
Section 6. No money shall be withdrawn from the State treasury nor obligated except in accordance with law.
Section 7. The Governor shall submit to the Legislature a budget setting forth a complete plan of proposed expenditures and anticipated receipts of the State Government, together with other information as the Legislature may require. The budget shall be submitted in a form, at a time, and for fiscal years prescribed by law.
The Governor shall also submit bills to provide for proposed expenditures and for any recommended additional revenues at a time prescribed by law.
Section 8. There shall be regular and independent audits of State agencies and revenues.
9. The State shall conduct regular public oversight hearings of
the State agencies and revenues.
Constitional amendment: New
Section 9 was added by a constitutional amendment adopted by Yap State
voters on November 7, 2006 and certified by the Yap State Election Commissioner
on November 24, 2006. The amendment was set forth in Proposal No.
2004-51, D2 of the 2004 Yap Constitutional Convention.