Prohibits bill certified for fiscal note or estimate from being released from committee without fiscal note or estimate.
Impact
If enacted, SB 632 would amend existing laws concerning the fiscal note process, emphasizing the need for financial assessments to accompany legislative proposals. This change could result in more deliberate scrutiny of proposed legislation, potentially slowing down the legislative process as bills will require additional steps to ensure that fiscal notes are completed. By tightening the rules around fiscal certifications, the bill aims to minimize the risk of passing legislation without a clear understanding of its financial impacts on the state budget and public funds.
Summary
Senate Bill 632 is a legislative proposal aimed at enhancing fiscal responsibility within the bill vetting process. This bill mandates that any bill certified for a fiscal note or estimate must not be released from committee unless a complete fiscal note or estimate has been provided. The intent behind this legislation is to ensure that potential fiscal implications are thoroughly evaluated before a bill can progress, thus promoting informed decision-making among legislators. This requirement is believed to lead to greater transparency and fiscal accountability in the legislative process.
Contention
Notably, there may be contention surrounding the balance between thorough fiscal evaluation and the efficiency of the legislative process. Supporters of SB 632 may argue that imposing such requirements strengthens fiscal discipline, while critics could express concerns that it may unnecessarily delay important legislation that could address urgent state needs. Furthermore, the bill’s proponents believe it will compel a deeper analysis of the financial ramifications of new laws, while adversaries might contend that this could become a bureaucratic hurdle in the legislative pipeline.
Providing for preliminary provisions, for taxation, for fiscal affairs and for Commonwealth budget procedures; establishing the Joint Revenue Estimation Committee and the Performance-based Incentive Account; and making repeals.