Fiscal review -- Repeal, amendment, or resubmission.
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(1) No later than 60 days after the date of an election in which the voters approve an initiative petition, the Office of the Legislative Fiscal Analyst shall:
(a) for each initiative approved by the voters, prepare a final fiscal impact statement, using current financial information and containing the information required by Subsection 20A-7-202.5(2); and
(b) deliver a copy of the final fiscal impact statement to:
(i) the president of the Senate;
(ii) the minority leader of the Senate;
(iii) the speaker of the House of Representatives;
(iv) the minority leader of the House of Representatives; and
(v) the first five sponsors listed on the initiative application.
(2) If the final fiscal impact statement exceeds the initial fiscal impact estimate by 25% or more, the Legislature shall review the final fiscal impact statement and may, in any legislative session following the election in which the voters approved the initiative petition:
(a) repeal the law established by passage of the initiative;
(b) amend the law established by passage of the initiative; or
(c) pass a joint or concurrent resolution informing the voters that they may file an initiative petition to repeal the law enacted by the passage of the initiative.