Bill Summary for S 514 (2017-2018)

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Summary date: 

Mar 30 2017

Bill Information:

View NCGA Bill Details2017-2018 Session
Senate Bill 514 (Public) Filed Wednesday, March 29, 2017
AN ACT TO REQUIRE THE CURRENT OPERATIONS APPROPRIATIONS ACT ENACTED BY THE GENERAL ASSEMBLY TO BE ACCOMPANIED BY A FISCAL ANALYSIS ADDRESSING THE STATE'S BUDGET OUTLOOK FOR A FIVE-YEAR PERIOD.
Intro. by Chaudhuri, Horner.

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Bill summary

Amends GS 143C-3-5 to require the Governor's budget recommendations to include a 5-year fiscal analysis that incorporates estimates of revenues and expenditures, factoring in listed economic changes, and a statement of assumptions.

Amends GS 143C-5-3. Amends the caption of that statute to read "Availability statement and fiscal analysis required." Requires the Current Operations Appropriations Act as it is passed by each Chamber and the enacted version to be accompanied by an independent fiscal analysis performed by the Fiscal Research Division of the General Assembly that addresses the budget outlook for the upcoming five-year period. Provides requirements for the analysis identical to those required for the Governor's budget recommendations, as described above.

Effective July 1, 2017.