Urges and requests the Revenue Estimating Conference to consider including all dedicated funds and fees and self-generated revenues in the projection of money available for appropriation in the long-range forecast.
Impact
The passage of SCR96 aims to enhance the reliability and comprehensiveness of the state’s financial forecasting. By urging the Revenue Estimating Conference to incorporate all dedicated funds and self-generated revenues, the resolution seeks to provide a clearer picture of the fiscal landscape for policymakers. This change could lead to more informed budgetary decisions and planning, potentially resulting in more effective allocation of resources throughout state-funded programs and services over a three-year period.
Summary
SCR96 is a legislative resolution from Louisiana that urges the Revenue Estimating Conference to include all dedicated funds and fees, as well as self-generated revenues, in their projections for money available for appropriation. The resolution emphasizes the importance of accurately estimating these funds in creating a long-range financial forecast for the state, which is crucial for effective fiscal planning and policy-making. The measure reflects the legislature's desire to ensure that all potential revenue sources are accounted for in budget forecasting, which can impact funding decisions across various sectors.
Sentiment
General sentiment surrounding SCR96 appears to be supportive, as evidenced by the unanimous vote (94-0) in the House. Lawmakers recognize the importance of understanding the full scope of available revenues in state budgeting processes. The collaborative approach of urging the conference suggests a proactive stance on improving fiscal management. By reaching a consensus on the need for these changes, the resolution reflects a bipartisan effort to address fiscal responsibilities.
Contention
Although the bill received broad support, there remains a complexity in accurately estimating self-generated revenues and dedicated funds, which could lead to debates on the methodology and accuracy of projections in the future. Concerns may arise regarding how these additional revenue estimates can influence budgetary practices or the reliability of fiscal forecasts. Ensuring that comprehensive data is utilized effectively will be key to achieving the intended outcomes of SCR96.
Urges and requests the Revenue Estimating Conference to consider including all dedicated funds and fees and self-generated revenues in the projection of money available for appropriation in the long-range forecast
Requires the Revenue Estimating Conference to designate certain general fund money from mineral revenue as restricted and prohibits including such revenue in the executive budget (RE SEE FISC NOTE GF RV See Note)
Provides for the dedications and uses on the deposit of certain monies derived from certain general fund revenues attributable to an increase in the base amount of mineral revenues received by the state as certified by the Revenue Estimating Conference for various Transportation Trust Fund and other transportation uses. (See Act) (EN -$4,400,000 GF RV See Note)