Bill > S1634

This bill establishes a permanent legislative fiscal office to serve as a resource for the Legislature, staffed by a director, deputy director, and other personnel with expertise in financial management and accounting. This office will research and provide analysis to legislators, legislative staff, and committees regarding the financial impact of proposed laws and the state budget, offering independent assessments of costs and suggestions for more cost-effective legislation, though its findings will not be binding. Legislators can request cost reviews of bills at any time, with these reviews to be completed before a bill is advanced from its committee. The office's responsibilities include analyzing proposed legislation and the Governor's budget, and after each legislative session, producing a report detailing all legislative appropriations, including budget figures, supplemental budgets, bonds, tax incentives, and the fiscal impact of enacted laws. Funding for the office will be appropriated annually by the Legislature from the state general fund as a separate item within the legislative expenses appropriation act, and its financial records will be subject to audit by the State Auditor's Office.