|BILL AS INTRODUCED||2007-2008|
Introduced by Representatives Komline of Dorset, Branagan of Georgia, Clerkin of Hartford, Devereux of Mount Holly, Errecart of Shelburne, Flory of Pittsford, Hube of Londonderry, Johnson of Canaan, Kilmartin of Newport City, Koch of Barre Town, Krawczyk of Bennington, Larrabee of Danville, McDonald of Berlin, McFaun of Barre Town, McNeil of Rutland Town, Morrissey of Bennington, O'Donnell of Vernon, Oxholm of Vergennes, Peaslee of Guildhall, Pillsbury of Brattleboro, Scheuermann of Stowe, Shaw of Derby, Turner of Milton, Valliere of Barre City, Winters of Williamstown and Wright of Burlington
Subject: Legislature; revenues or expenditures; fiscal notes
Statement of purpose: This bill proposes that any bill affecting the expenditures or revenues of the state or of a municipality shall be accompanied by a fiscal note when it is voted out of a standing committee of the general assembly.
AN ACT RELATING TO LEGISLATIVE FISCAL NOTES FOR BILLS THAT WOULD AFFECT THE EXPENDITURES OR REVENUES OF THE STATE OR A MUNICIPALITY
It is hereby enacted by the General Assembly of the State of Vermont:
Sec. 1. 2 V.S.A. § 23 is added to read:
§ 23. BILLS AFFECTING EXPENDITURES OR REVENUES
(a) Any bill voted out of a standing committee of the general assembly which affects the expenditures or revenues of the state or one or more municipalities shall be accompanied by a fiscal note. The fiscal note shall be prepared by the joint fiscal office. The fiscal note shall be filed with the clerk of the house or the secretary of the senate, as appropriate, together with the bill to be reported. A fiscal note shall accompany, rather than be a part of, the bill and shall be presented by the reporter of the bill when the bill is taken up for deliberation by the body.
(b) A fiscal note prepared under this section shall contain an estimate of the effect of the bill upon the expenditures or revenues of the state or municipalities for the fiscal year in which the bill would become effective if enacted and for the next five succeeding years. A fiscal note shall also contain an estimate of the impact of the bill on jobs and employment in the state. If the effect of the bill is not expected to be totally evidenced within that period of time, the estimate shall be projected beyond that period to include an estimate for the first year in which the bill is expected to affect fully expenditures or revenues.
(c) Fiscal notes prepared under this section are for the sole purpose of assisting the general assembly and the public in conducting informed deliberations on legislative proposals. An inaccuracy in any fiscal note, or failure to issue a fiscal note, shall not affect the validity of any legislative enactment nor be the basis of any action against the state.
Sec. 2. 2 V.S.A. § 503(b) is amended to read:
(b) The joint fiscal committee shall:
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(5) Prepare fiscal notes pursuant to section 23 of this title.
The Vermont General Assembly
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