84R7724 MK-D
By: Howard H.B. No. 1349
A BILL TO BE ENTITLED
AN ACT
relating to the creation of a long-range revenue analysis
committee.
BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS:
SECTION 1. Subchapter B, Chapter 403, Government Code, is
amended by adding Section 403.0306 to read as follows:
Sec. 403.0306. LONG-RANGE REVENUE ANALYSIS COMMITTEE. (a)
The long-range revenue analysis committee shall produce biannual
long-range financial projection and revenue reports to assist the
legislature in making budget decisions.
(b) The committee is composed of:
(1) the chief revenue estimator from the office of the
comptroller;
(2) the executive director of the Legislative Budget
Board;
(3) the committee director of the committee of the
house of representatives with jurisdiction over appropriations;
(4) the committee director of the senate committee
with jurisdiction over appropriations; and
(5) the state demographer.
(c) The executive director of the Legislative Budget Board
shall serve as the chair of the committee.
(d) The committee is not subject to Chapter 2110.
(e) The committee may request assistance with gathering
data, performing analysis, developing financial forecasts and
official estimates, or any other relevant tasks from any
department, agency, institution, office, or political subdivision
of this state.
(f) Between January 15 and February 1 of each odd-numbered
year, the committee shall issue a long-range revenue analysis
report for a 10-year period, including the fiscal biennium
beginning on September 1 of that year, that includes:
(1) revenue estimates and major state financial
projections, including:
(A) long-term cost drivers for expenditures in
each article of the General Appropriations Act, such as projections
of population demographics, educational statistics, and workforce
statistics; and
(B) long-term revenue sources, such as state
economic growth and personal income growth;
(2) projections for constitutionally dedicated
appropriations during the 10-year period;
(3) fiscal impact statements for the projected
development of the economy, population, and fiscal practices of the
state; and
(4) fiscal impact statements for current state
programs and fiscal policies.
(g) In creating the report required by Subsection (f), the
committee shall use the current actual expenditures of the state,
or, if actual expenditures are not available, the best available
estimate of actual expenditures of the state and may seek input as
necessary from the public, the executive branch and the judicial
branch of the state, state agencies, and any other relevant
sources. The committee must reach a consensus on any revenue
analysis and projections created for each report before the
analysis or projections may be included in the report.
(h) The report produced by the committee must be approved by
all members of the Legislative Budget Board before publication.
(i) Following approval of the report under Subsection (h),
the Legislative Budget Board shall deliver the report to the
legislature and shall publish the report on the board's Internet
website.
SECTION 2. This Act takes effect September 1, 2015.