Connecticut Senate Bill SB00026

Connecticut 2012 Regular Session

• Introduced: 2/9/12
• Refer: 2/9/12
• Report Pass: 4/3/12
• Refer: 4/12/12
• Report Pass: 4/18/12

Caption

An Act Concerning Deadlines For Consensus Revenue Estimates.

Impact

This legislation aims to enhance the reliability and accuracy of state financial planning by setting clear timelines for revenue estimation processes, thereby helping the General Assembly and the Governor prepare budgets that are more reflective of actual financial conditions. To this end, the bill mandates that if the parties responsible for creating revenue estimates fail to reach an agreement, both the Secretary and the Director will produce separate estimates, which the Comptroller will then use to formulate a consensus revenue estimate. This mechanism is expected to improve transparency and accountability in fiscal matters.

Summary

SB00026, titled 'An Act Concerning Deadlines For Consensus Revenue Estimates', seeks to amend existing statutes related to the issuance of revenue estimates in the state. The bill establishes new deadlines for the Secretary of the Office of Policy and Management and the Director of the Legislative Office of Fiscal Analysis. Specifically, the bill changes the deadline for issuing the consensus revenue estimate from October 15 to November 10, which is intended to provide more time for analysis and agreement on state revenue projections.

Sentiment

The sentiment surrounding SB00026 appears to be supportive, with a focus on improving revenue forecasting in the state. The bill is likely viewed favorably among legislators who prioritize responsible fiscal management and accountability in budgeting processes. However, there may also be apprehensions from those cautious about potential implications of changing established deadlines, fearing it could complicate budget preparations if not executed properly.

Contention

While the bill has garnered general support, notable points of contention might arise regarding the practicality of the new timelines and the potential for disagreements between the financial officials responsible for revenue estimation. Stakeholders may debate whether these changes could lead to delays in the budget process or create challenges in achieving consensus among key decision-makers, essential for effective governance.