Bill > HB228

This bill modifies the reporting requirements for legislation with significant fiscal impacts by changing how and when state agencies must report actual expenditures compared to original projections. Specifically, the bill reduces the threshold for reporting from $1 million to $500,000 in projected general fund expenditures and transitions from an annual to a biannual reporting schedule. Under the new requirements, the Office of Budget and Program Planning must submit two reports each fiscal year - one in February and one in October - to the legislative finance committee. Each report must include the bill's name, actual expenditures for the respective two quarters of the preceding fiscal year, a description of how funds were spent, and a comparison to the original fiscal note projections. The bill removes the previous December 31, 2025 termination date for these reporting requirements and will become effective on June 30, 2025. The goal appears to be providing more frequent and detailed transparency about the real-world costs of legislation with significant anticipated fiscal impacts.

Budget and Finance

https://bills.legmt.gov/#/laws/bill/2/LC3417