General Assembly; Department of Planning and Budget to prepare fiscal impact statements. (HB785)

Introduced By

Del. Mark Keam (D-Vienna)

Description

General Assembly; Department of Planning and Budget; fiscal impact statements. Requires the Department of Planning and Budget to prepare a fiscal impact statement for any bill, except the Budget Bill and debt bills, that increases or decreases the total revenue available for appropriation or that establishes a new state program or initiative requiring an appropriation. The fiscal impact statement would include analysis of the (i) fiscal impact estimates, (ii) impact on any state entity affected by the revenue increase or decrease or charged with administering the new program or initiative, and (iii) potential costs to citizens in terms of increased taxes. The bill also provides for each fiscal impact statement to be reviewed by the appropriate staff of the Senate Committee on Finance and the House Committee on Appropriations prior to being heard by the standing committee to consider the legislation. Read the Bill »

Outcome

History