Bill > A4143

Introduced Session

This bill requires the State Treasurer to submit an annual multi-year fiscal outlook analysis to the Governor and the Legislature based on the Governor's proposed budget. The purpose of this bill is to identify publicly the trajectory of the budget's structural deficit in future years to inform current decision-making. The bill requires the multi-year fiscal outlook analysis to include a forecast of the State's anticipated fiscal position, based on the Governor's proposed budget for the next fiscal year and for each of the next two succeeding State fiscal years. For each State fiscal year, the analysis is required to include an itemized statement of the anticipated amount of all appropriations, revenues, and fund balance as well as distinct projections of any structural deficit, based on the optimistic, pessimistic, and baseline economic scenario for each State fiscal year. The bill requires the anticipated amounts of appropriations in each State fiscal year to be estimated using a current services basis of budgeting method and adjusted based on relevant economic metrics and programmatic adjustments. Current services budgeting is a method used to project what the State would have to spend on a given program to maintain the program at its currently proposed funding level in the absence of any proposed policy changes. In each case, the bill requires the multi-year fiscal outlook analysis to include a statement explaining the underlying assumptions and methods used to determine the anticipated amount of revenues and appropriations for each fiscal year, as well as the optimistic, pessimistic, and baseline economic scenarios. The bill also directs the State Treasurer to submit the multi-year fiscal outlook analysis twice each year. The bill requires the multi-year fiscal outlook analysis to be submitted either on or before April 1, or on the date of the State Treasurer's first appearance before the Legislature's budget committees following the Governor's budget message, whichever occurs earlier, and once on or before May 31, or on the date of the State Treasurer's second appearance before the Legislature's budget committees during their consideration of the Governor's proposed budget. The bill also requires the updated multi-year fiscal outlook analysis to include a statement explaining any revisions to the initial analysis submitted for that year.

AI Summary

Committee Categories

Andrew Macurdy (D)*, 

Introduced, Referred to Assembly State and Local Government Committee (on 02/19/2026)

Official Document