Bill > HB52

This bill amends Title 29 of the Delaware Code to extend fiscal projection requirements from 3 years to 5 years across multiple sections of state law. Specifically, the bill requires that any bill or joint resolution authorizing new expenditures, relating to public pensions or retirement plans, potentially reducing state revenue, providing for federal matching funds, or involving local school district funds must now include a comprehensive 5-year fiscal projection instead of the previous 3-year (or 1-year) projection. These fiscal projections must describe, as accurately as possible, all financial requirements, obligations, and potential consequences of the proposed legislation, including details like salaries, operating costs, employment benefits, capital outlay, and debt service. The Controller General is required to review or prepare these projections, provide concurrence or additional fiscal data, and highlight potential cost escalations or revenue reductions. The bill aims to provide more comprehensive and forward-looking financial analysis for proposed legislation, giving lawmakers a more extensive view of potential long-term fiscal impacts. The changes will apply to all bills or joint resolutions filed after the act's enactment into law.

Government Affairs

https://legis.delaware.gov/BillDetail?LegislationId=141881