Relating to the sunset review of the Legislative Budget Board and a study by the comptroller on the accuracy of fiscal notes prepared by the Legislative Budget Board.
The bill introduces a systematic review by the comptroller of the accuracy of fiscal notes prepared by the Legislative Budget Board. This review will be conducted biennially and will compare the estimated costs provided in these fiscal notes against the actual costs incurred by the state in implementing related legislation. A report summarizing the findings will be published by December 1 of each even-numbered year, which could significantly influence how future legislation is assessed for budgeting purposes and how fiscal predictions align with real outcomes.
SB1358, relating to the sunset review of the Legislative Budget Board and a study by the comptroller on the accuracy of fiscal notes prepared by the Legislative Budget Board, aims to enhance the accountability and transparency of the state's budgeting process. Specifically, the bill amends existing laws to establish a sunset provision for the Legislative Budget Board, requiring periodic evaluations of its effectiveness and continued existence. The agency, unless continued by the legislature, would be abolished on September 1, 2019, thereby ensuring regular scrutiny of its operations.
While the bill is intended to promote better fiscal management and oversight, it may face opposition regarding the implications of the sunset provision. Critics might argue that the potential for the Legislative Budget Board's abolition undermines the stability of state budgeting processes. Supporters, on the other hand, assert that regular reviews encourage efficiency and accountability, pushing the agency to maintain a high standard in its fiscal estimates and operations. The discussions around the bill will likely also address concerns about the resources and focus required for conducting these evaluations.