| 1 | 1 | | 84R7724 MK-D |
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| 2 | 2 | | By: Howard H.B. No. 1349 |
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| 3 | 3 | | |
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| 4 | 4 | | |
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| 5 | 5 | | A BILL TO BE ENTITLED |
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| 6 | 6 | | AN ACT |
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| 7 | 7 | | relating to the creation of a long-range revenue analysis |
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| 8 | 8 | | committee. |
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| 9 | 9 | | BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS: |
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| 10 | 10 | | SECTION 1. Subchapter B, Chapter 403, Government Code, is |
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| 11 | 11 | | amended by adding Section 403.0306 to read as follows: |
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| 12 | 12 | | Sec. 403.0306. LONG-RANGE REVENUE ANALYSIS COMMITTEE. (a) |
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| 13 | 13 | | The long-range revenue analysis committee shall produce biannual |
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| 14 | 14 | | long-range financial projection and revenue reports to assist the |
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| 15 | 15 | | legislature in making budget decisions. |
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| 16 | 16 | | (b) The committee is composed of: |
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| 17 | 17 | | (1) the chief revenue estimator from the office of the |
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| 18 | 18 | | comptroller; |
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| 19 | 19 | | (2) the executive director of the Legislative Budget |
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| 20 | 20 | | Board; |
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| 21 | 21 | | (3) the committee director of the committee of the |
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| 22 | 22 | | house of representatives with jurisdiction over appropriations; |
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| 23 | 23 | | (4) the committee director of the senate committee |
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| 24 | 24 | | with jurisdiction over appropriations; and |
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| 25 | 25 | | (5) the state demographer. |
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| 26 | 26 | | (c) The executive director of the Legislative Budget Board |
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| 27 | 27 | | shall serve as the chair of the committee. |
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| 28 | 28 | | (d) The committee is not subject to Chapter 2110. |
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| 29 | 29 | | (e) The committee may request assistance with gathering |
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| 30 | 30 | | data, performing analysis, developing financial forecasts and |
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| 31 | 31 | | official estimates, or any other relevant tasks from any |
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| 32 | 32 | | department, agency, institution, office, or political subdivision |
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| 33 | 33 | | of this state. |
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| 34 | 34 | | (f) Between January 15 and February 1 of each odd-numbered |
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| 35 | 35 | | year, the committee shall issue a long-range revenue analysis |
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| 36 | 36 | | report for a 10-year period, including the fiscal biennium |
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| 37 | 37 | | beginning on September 1 of that year, that includes: |
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| 38 | 38 | | (1) revenue estimates and major state financial |
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| 39 | 39 | | projections, including: |
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| 40 | 40 | | (A) long-term cost drivers for expenditures in |
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| 41 | 41 | | each article of the General Appropriations Act, such as projections |
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| 42 | 42 | | of population demographics, educational statistics, and workforce |
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| 43 | 43 | | statistics; and |
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| 44 | 44 | | (B) long-term revenue sources, such as state |
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| 45 | 45 | | economic growth and personal income growth; |
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| 46 | 46 | | (2) projections for constitutionally dedicated |
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| 47 | 47 | | appropriations during the 10-year period; |
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| 48 | 48 | | (3) fiscal impact statements for the projected |
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| 49 | 49 | | development of the economy, population, and fiscal practices of the |
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| 50 | 50 | | state; and |
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| 51 | 51 | | (4) fiscal impact statements for current state |
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| 52 | 52 | | programs and fiscal policies. |
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| 53 | 53 | | (g) In creating the report required by Subsection (f), the |
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| 54 | 54 | | committee shall use the current actual expenditures of the state, |
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| 55 | 55 | | or, if actual expenditures are not available, the best available |
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| 56 | 56 | | estimate of actual expenditures of the state and may seek input as |
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| 57 | 57 | | necessary from the public, the executive branch and the judicial |
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| 58 | 58 | | branch of the state, state agencies, and any other relevant |
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| 59 | 59 | | sources. The committee must reach a consensus on any revenue |
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| 60 | 60 | | analysis and projections created for each report before the |
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| 61 | 61 | | analysis or projections may be included in the report. |
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| 62 | 62 | | (h) The report produced by the committee must be approved by |
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| 63 | 63 | | all members of the Legislative Budget Board before publication. |
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| 64 | 64 | | (i) Following approval of the report under Subsection (h), |
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| 65 | 65 | | the Legislative Budget Board shall deliver the report to the |
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| 66 | 66 | | legislature and shall publish the report on the board's Internet |
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| 67 | 67 | | website. |
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| 68 | 68 | | SECTION 2. This Act takes effect September 1, 2015. |
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