When a bill relating to state taxes is reported out of a standing committee of the Senate or House of Representatives for consideration, there must be attached and printed as a part of the committee report a statement of the estimated revenue impact of the bill on the finances of the State certified by the Executive Director of the Revenue and Fiscal Affairs Office, or his designee. As used in this section "statement of estimated revenue impact" means the consensus of the persons executing the required statement as to the increase or decrease in the net tax revenue to the State if the bill concerned is enacted by the General Assembly. In preparing a statement, the Revenue and Fiscal Affairs Office may request technical advice of the Department of Revenue.
HISTORY: 1978 Act No. 644, Part II, Section 338; 1983 Act No. 151, Part II, Section 15; 1993 Act No. 181, Section 21; 1997 Act No. 82, Section 1; 2018 Act No. 246 (H.3895), Section 3.A, eff July 1, 2018.
Effect of Amendment
2018 Act No. 246, Section 3.A, in the first sentence, substituted "Executive Director of the Revenue and Fiscal Affairs Office, or his designee" for "Board of Economic Advisors" at the end, and in the third sentence, substituted "the Revenue and Fiscal Affairs Office" for "the Board of Economic Advisors" following "In preparing a statement,".